Shares of Vaxart (VXRT) - Get Report and Arcturus Therapeutics ARCT jumped in Monday trading after the drugmakers, which are developing coronavirus vaccine candidates, were the subject of a bullish note from analysts at B. Riley.
B. Riley analyst Mayank Mamtani says Vaxart, the South San Francisco clinical-stage biotech, is differentiated from rivals due to a "one-of-its-kind oral vaccine" candidate; derisking data that will likely turn into nondilutive funding support in the second half, and its ability to scale up to meet global demand.
Vaxart shares at last check rose 50% to $11.93. B. Riley has a $22 price target on the stock.
Arcturus stands out at B. Riley because it has shown promise across its pipeline.
Mamtani says the company's covid-19 vaccine development is a "key inflection point" for its platform, which has already been validated in preclinical studies.
Arcturus shares were almost 10% higher at $51.53. B. Riley has a $70 price target on the company.
The U.S. is in the midst of a severe spike in coronavirus infections.
Anthony Fauci, the immunologist who runs the National Institute of Allergy and Infectious Diseases and is part of the White House's coronavirus task force, has repeatedly stated that developing a vaccine is the most important step toward returning the country to normalcy.
On Monday, the Los Angeles and San Diego school districts, the two largest in California, said they would hold only digital classes in the fall due to concern about the surge in coronavirus cases in the state over the past month.