Shares of Novavax Inc. (NASDAQ:NVAX) dropped 2.1% during trading on Tuesday . The company traded as low as $7.03 and last traded at $7.06, with a volume of 1,803,594 shares. The stock had previously closed at $7.21.

NVAX has been the topic of a number of research analyst reports. Vetr cut Novavax from a “strong-buy” rating to a “buy” rating and set a $8.02 target price on the stock. in a research report on Wednesday, June 29th. Citigroup Inc. lifted their target price on Novavax from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. FBR & Co set a $17.00 target price on Novavax and gave the stock a “buy” rating in a research report on Thursday, August 11th. Guggenheim reiterated a “buy” rating and set a $25.00 target price on shares of Novavax in a research report on Monday. Finally, Zacks Investment Research upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Novavax currently has an average rating of “Buy” and a consensus price target of $12.68.

The firm’s 50 day moving average price is $7.32 and its 200 day moving average price is $6.04. The firm’s market cap is $1.89 billion.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.04. The business had revenue of $2.50 million for the quarter, compared to the consensus estimate of $8.03 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. Novavax’s revenue was down 82.1% compared to the same quarter last year. On average, equities research analysts forecast that Novavax Inc. will post ($1.07) earnings per share for the current fiscal year.

In other Novavax news, Director Gary C. Evans sold 18,998 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $6.50, for a total value of $123,487.00. Following the completion of the transaction, the director now directly owns 321,979 shares of the company’s stock, valued at approximately $2,092,863.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.

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