Novavax Inc. (NVAX) PT Lowered to $1.50
Novavax Inc. (NASDAQ:NVAX) had its price target cut by equities research analysts at Chardan Capital from $5.75 to $1.50 in a report issued on Tuesday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Chardan Capital’s target price would indicate a potential upside of 0.67% from the stock’s current price.
A number of other equities analysts have also weighed in on NVAX. Zacks Investment Research upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Piper Jaffray Cos. lowered Novavax from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $1.00 in a research note on Friday. Vetr upgraded Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 target price on the stock in a research note on Wednesday, July 13th. Wedbush lowered Novavax from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $2.00 in a research note on Friday. Finally, Ladenburg Thalmann lowered Novavax from a “buy” rating to a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $7.06.
Shares of Novavax (NASDAQ:NVAX) opened at 1.49 on Tuesday. The stock’s 50 day moving average price is $7.01 and its 200-day moving average price is $6.21. Novavax has a 52-week low of $1.16 and a 52-week high of $9.97. The company’s market cap is $403.54 million.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.04. The business earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. Novavax’s quarterly revenue was down 82.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. Equities analysts expect that Novavax will post ($1.09) EPS for the current year.
Several large investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. increased its stake in shares of Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,055 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Novavax during the second quarter worth $102,000. Veritable L.P. acquired a new stake in shares of Novavax during the second quarter worth $102,000. Moors & Cabot Inc. acquired a new stake in shares of Novavax during the second quarter worth $119,000. Finally, BlackRock Inc. increased its stake in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 11,547 shares in the last quarter. 79.84% of the stock is currently owned by hedge funds and other institutional investors.
Novavax Company Profile
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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