Is Novavax Actually a Value Stock?

You can accurately describe Novavax (NASDAQ: NVAX) in several ways. A huge winner? Definitely — Novavax’s shares are up over 4,300% since the beginning of 2020. A leader in the COVID-19 vaccine race? Sure: The company could win Emergency Use Authorization (EUA) for its NVX-CoV2373 vaccine this summer.
There’s one description of Novavax, though, that many investors might shy away from. Probably few would refer to the biotech as a value stock. After all, Novavax’s market cap is close to $13 billion, with no product even on the market yet. However, there is a case to be made that Novavax actually is a value stock.
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