TD Cowen lowered the firm’s price target on Novavax (NVAX) to $9 from $14 and keeps a Hold rating on the shares. The firm said the FDA lifted its clinical hold on its COVID/flu combo and standalone flu vaccine resuming plans to initiate Ph3 imminently. Q3 COVID vaccine revenues missed as expected, given delayed start as the low initial market share driving FY24 guidance down.
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