By Liz Moyer
Investing.com — Novavax Inc (NASDAQ:) jumped 20% on Monday as investors cheered promising news about its Covid-19 vaccine candidate.
The company said last month is two-shot drug is 89.3% effective, and has shown positive results even against tougher virus strains in the U.K. and South Africa. Its phase 3 clinical trials were done in the U.K.
Analysts have been raising their price targets on the stock. On Monday, B. Riley analysts, who rate it a buy, moved their target up to $334 from $223. Last week, JP Morgan, which also rates the stock a buy, raised its price target to $295 from $216. The stock currently trades around $264, setting a 52-week high on Monday.
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