Novavax (NVAX) recently reported its second quarter results, missing estimates on revenue and adjusted earnings while slashing its full-year outlook for revenue. Despite this, Novavax’s stock edges higher in Thursday trading. Mizuho healthcare equity strategist Jared Holz joins Catalysts to give insight into Novavax’s performance and how the vaccine maker may operate moving forward. Holz bluntly states: “This is a super volatile stock, not that surprised that it’s up today. When you just look at the valuation of a company that’s worth a little bit more than a billion and is still going to do roughly $400 to $500 million in sales next year with the vaccine, you’re not looking at a huge multiple. But when you kind of zoom out here, this COVID market for vaccines, I think is going to be incredibly disappointing, not only this year but in the out years.” For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
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