You might not expect a stock that gained 2,600% last year to be this year’s success story, too. But in the case of Novavax (NASDAQ: NVAX), a lasting winning streak is very realistic. Novavax started 2020 as a clinical-stage company with an investigational flu vaccine in phase 3 trials — and a share price of less than $4. Then, its launch of a coronavirus vaccine program and positive trial results from the flu vaccine candidate sent the shares soaring.
The U.S. Food and Drug Administration (FDA) recently granted an Emergency Use Authorization (EUA) to Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA) for their coronavirus vaccines. These companies have already begun distributing the vaccines, and therefore are generating revenue from them. So, you might wonder why Novavax — still involved in clinical trials — is my favorite vaccine stock for 2021. Let’s take a closer look.