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10 Pharma Stocks Under $3

2. Novavax (NVAX) is a biopharmaceutical company focused on developing recombinant vaccines. Virus-like particles, or VLPs, drive the company's technology platform. VLPs are genetically engineered three-dimensional nanostructures that 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 U.S. Dept. of Health and Human Services' Biomedical Advanced Research and Development Authority contract. For 2011, the company expects to generate revenue as it performs under the BARDA contract. Net loss declined to $7.5 million, or $0.07 per share, from $10.3 million, or $0.10 per share, in the comparable quarter of 2010, on lower research and development spending to support clinical trials for its H1N1 and seasonal influenza vaccine candidates.

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

All the five analysts covering the stock recommend a buy. There are no sell ratings on the stock. On average, analysts expect an upside of 218.8% to $6.38 in value from current levels.

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