Novavax Inc ( NVAX ) on Wednesday announced the receipt of European marketing authorization for its Nuvaxovid COVID-19 vaccine.

What Happened: Novavax ( NVAX ) said the European Commission granted Marketing Authorization for its updated 2024-2025 Nuvaxovid COVID-19 vaccine for use in individuals aged 12 and older.

NVX-CoV2705 is an updated version of Novavax’s prototype COVID-19 vaccine formulated to target the JN.1 variant. It is a protein-based vaccine made by creating copies of the surface spike protein of SARS-CoV-2 that causes COVID-19.

The European Commission’s authorization comes after non-clinical data showed that Novavax’s updated vaccine provides cross-reactivity against JN.1 and several JN.1 lineage viruses.

Novavax’s 2024-2025 formula of Nuvaxovid has not been approved or licensed by the U.S. Food and Drug Administration (FDA), but has been authorized for emergency use by the FDA. The Emergency Use Authorization for this product is expected to remain in place for the duration of the COVID-19 Emergency Use declaration.

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NVAX Stock Forecast In 2030

Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.

If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.

For Novavax ( NVAX ), over the past five years, its annualized stock performance is 23.39%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $36.78.

Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.

NVAX Price Action: Novavax ( NVAX ) shares initially traded up to the $13.60 level before pulling back. The stock was down 0.84% at $12.93 at the time of publication, according to Benzinga Pro.