From Financial Modeling Prep: 2025-06-17 16:06:00

Citi initiates coverage on Novavax (NASDAQ:NVAX) with a Sell rating and $6 price target, citing concerns over evolving business model and high-risk profile. Novavax pivots from COVID-19 vaccine to introduce malaria vaccine for low-income countries, distributed since May 2024. Licensing deal with Sanofi for COVID+flu shot raises long-term potential, but Citi remains cautious on near-term commercial outlook.



Read more at Financial Modeling Prep:: Citi Starts Novavax at Sell, Citing Strategic Shif…