7 Best Under The Radar Stocks to Buy According to Analysts

4. Novavax (NASDAQ:NVAX)  

Upside Potential: 41.62%  

Number of Hedge Fund Investors: 20  

Novavax (NASDAQ:NVAX) is a biotechnology company that specializes in the development of vaccines for infectious diseases, including COVID-19. The company’s protein-based vaccine has been authorized for use in various regions, and it continues to develop vaccines for other diseases, such as influenza and RSV.

Novavax (NASDAQ:NVAX) is positioning itself as a key player in the global vaccine market with a robust pipeline of candidates. In May, Novavax (NASDAQ:NVAX) signed a collaboration with Sanofi that granted Sanofi a license for the company’s adjuvanted COVID-19 vaccine. The deal includes $1.2 billion in potential payments for Novavax (NASDAQ:NVAX) and is a significant milestone in the the successful commercialization of new vaccines.

Novavax’s (NASDAQ:NVAX) COVID-19 vaccine targets the JN.1 variant. The company received emergency use authorization (EUA) from the FDA for its updated COVID-19 vaccine. The company’s partnership with Sanofi is progressing, with a Phase 3 trial for its COVID-19 and influenza combination (CIC) vaccine and stand-alone flu vaccine expected to begin in Q4 and top-line data expected by mid-2025. Novavax (NASDAQ:NVAX) could receive payments based on clinical success and regulatory approval, while commercial success would result in royalty payments.

Novavax (NASDAQ:NVAX) is a compelling investment opportunity for those who want to invest in the potentially lucrative influenza/COVID combination vaccine market. As of the second quarter, the company’s stock is held by 20 hedge funds, with a total stake valued at $302.79 million. Industry analysts have a consensus on the stock’s Buy rating, setting an average share price target at $20, which represents a 41.62% upside potential from its current levels.