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10 Stocks Under $3 With Upside

1. Novavax (NVAX) is a biopharmaceutical company focused on developing recombinant vaccines. The company's technology platform is based on virus-like particles (VLPs). The VLPs are genetically engineered three-dimensional nanostructures, which incorporate immunologically important recombinant proteins.

Total revenue for the first quarter of 2011 surged to $834,000 from $110,000 in the year-ago quarter, primarily due to services performed under the HHS BARDA contract. For 2011, the company expects to generate revenue as it performs under the HHS BARDA contract. Net loss declined to $7.5 million or 7 cents per share from $10.3 million or 10 cents per share in the comparable quarter of 2010, impacted by lower research and development spending to support clinical trials for its H1N1 and seasonal influenza vaccine candidates in the three months ended March 31, 2011.

Cash and cash equivalents stood at $8.4 million, up 3.7% from $8.1 million at the end of Dec. 2010. Moreover, the company had a current ratio of 2.60.

All the four analysts covering the stock recommend a buy. There are no sell ratings on the stock. On average, analysts expect an upside of 197% to $7 in value from current levels.

>>To see these stocks in action, visit the 10 Stocks Under $3 With Upside portfolio on Stockpickr.

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