Novavax Inc. (NVAX) Downgraded to “Neutral” at JPMorgan Chase & Co.
A number of other analysts have also recently issued reports on the company. Piper Jaffray Cos. reissued an overweight rating and set a $14.00 target price on shares of Novavax in a research note on Friday, September 9th. Vetr downgraded Novavax from a strong-buy rating to a buy rating and set a $7.86 price target for the company. in a research report on Monday, August 15th. Wedbush reaffirmed an outperform rating and set a $14.00 price target on shares of Novavax in a research report on Wednesday, July 27th. FBR & Co set a $17.00 price target on Novavax and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Guggenheim reaffirmed a buy rating and set a $25.00 price target on shares of Novavax in a research report on Monday, August 29th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $7.06.
Novavax (NASDAQ:NVAX) opened at 1.94 on Friday. The company’s 50-day moving average is $6.69 and its 200-day moving average is $6.16. Novavax has a 12 month low of $1.16 and a 12 month high of $9.56. The company’s market cap is $525.42 million.
Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.04. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. 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 previous year, the company posted ($0.08) earnings per share. Novavax’s revenue for the quarter was down 82.1% compared to the same quarter last year. On average, equities research analysts anticipate that Novavax will post ($1.09) earnings per share for the current year.
In related news, Director Gail Boudreaux acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was bought at an average price of $1.45 per share, with a total value of $145,000.00. Following the acquisition, the director now owns 200,000 shares in the company, valued at approximately $290,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in NVAX. State Street Corp increased its stake in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 3,527,714 shares during the last quarter. Wellington Management Group LLP increased its stake in Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares during the last quarter. Bellevue Group AG bought a new stake in Novavax during the first quarter valued at approximately $1,677,000. DIAM Co. Ltd. increased its stake in Novavax by 2.6% in the second quarter. DIAM Co. Ltd. now owns 646,515 shares of the biopharmaceutical company’s stock valued at $4,635,000 after buying an additional 16,660 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in Novavax by 99.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 980,955 shares of the biopharmaceutical company’s stock valued at $7,132,000 after buying an additional 489,306 shares during the last quarter. 79.84% of the stock is owned by institutional investors.
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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