Novavax Inc. (NASDAQ:NVAX) was downgraded by Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a $1.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $14.00. Piper Jaffray Cos.’s target price would indicate a potential downside of 32.89% from the stock’s current price.

The analysts wrote, “So, Now What?”

Several other equities research analysts have also commented on the stock. Ladenburg Thalmann lowered shares of Novavax from a “buy” rating to a “neutral” rating in a report on Friday. FBR & Co cut their price target on shares of Novavax from $17.00 to $12.00 and set an “outperform” rating for the company in a report on Friday. Wedbush lowered shares of Novavax from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $14.00 to $2.00 in a report on Friday. Guggenheim reissued a “buy” rating and issued a $25.00 price target on shares of Novavax in a report on Monday, August 29th. Finally, Vetr raised shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.66 price target for the company in a report on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Novavax presently has an average rating of “Hold” and a consensus price target of $7.06.

Shares of Novavax (NASDAQ:NVAX) opened at 1.49 on Friday. The company’s market cap is $403.54 million. Novavax has a one year low of $1.16 and a one year high of $9.97. The company’s 50-day moving average is $7.01 and its 200-day moving average is $6.21.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.04. The company earned $2.50 million during the quarter, compared to analysts’ expectations of $8.03 million. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. Novavax’s revenue was down 82.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) EPS. On average, equities analysts predict that Novavax will post ($1.09) EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised 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 bought a new position in Novavax during the second quarter worth approximately $102,000. Veritable L.P. bought a new position in Novavax during the second quarter worth approximately $102,000. Moors & Cabot Inc. bought a new position in Novavax during the second quarter worth approximately $119,000. Finally, BlackRock Inc. boosted its position in 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 during the last quarter. 79.84% of the stock is owned by hedge funds and other institutional investors.

About Novavax

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.

5 Day Chart for NASDAQ:NVAX

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