AZN - Could Novavax Be a Millionaire-Maker Stock?
As the coronavirus vaccine race continues, investors are increasingly ditching less prominent drugmakers exhibiting slow progress and/or financial woes; Inovio Pharmaceuticals (NASDAQ: INO) and Sorrento Therapeutics (NASDAQ: SRNE) are down between 8% and 36%, respectively, over the past month. In favor instead are large-cap sector players including Moderna (NASDAQ: MRNA) and AstraZeneca (NASDAQ: AZN) , up 8% and 17%, respectively, in the same time frame.
There are some exceptions, however. One small-cap biotech that's been surprisingly resilient, Novavax (NASDAQ: NVAX) , is up more than 1,000% since mid-February on its potential to commercialize a coronavirus vaccine.
Returns like that can propel an initial investment of $10,000 into more than $100,000 in less than nine months. At the current rate of return, Novavax could very well become a millionaire-maker stock. Today, let's look at why the company's momentum shows no sign of subsiding.
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Could Novavax Be a Millionaire-Maker Stock?