11:05 AM EDT, 08/20/2025 (MT Newswires) -- Novavax ( NVAX ) faces an "increasingly murky" outlook amid uncertainty for its vaccine programs, BofA Securities said Wednesday in a report.

Despite the company's "solid execution," the growth prospects are "hazy," the report said. Novavax ( NVAX ) has partnered with Sanofi ( SNY ) , which now leads commercialization of the COVID vaccine Nuvaxovid, which may face near-term revenue challenges due to a restricted US label and waning public sentiment for the treatment, BofA said.

Novavax's ( NVAX ) COVID-19 and influenza combination vaccine program faces a more challenging regulatory landscape under the new framework of the Food and Drug Administration, which may hinder new partnership opportunities, the report said.

BofA downgraded Novavax's ( NVAX ) stock to underperform from neutral and lowered its price target to $7 from $9.

Novavax ( NVAX ) shares fell 6.6% in recent Wednesday trading.

Price: 8.89, Change: -0.64, Percent Change: -6.67