Novavax Inc. (NVAX) Stock Rating Lowered by Ladenburg Thalmann
NVAX has been the subject of several other reports. Vetr upgraded Novavax from a buy rating to a strong-buy rating and set a $8.66 target price for the company in a research report on Tuesday, August 23rd. Guggenheim reiterated a buy rating and issued a $25.00 target price on shares of Novavax in a research report on Monday, August 29th. Piper Jaffray Cos. reiterated an overweight rating and issued a $14.00 target price on shares of Novavax in a research report on Friday, September 9th. Wedbush downgraded Novavax from an outperform rating to a neutral rating and dropped their target price for the company from $14.00 to $2.00 in a research report on Friday, September 16th. Finally, Citigroup Inc. increased their target price on Novavax from $10.00 to $12.00 and gave the company a buy rating in a research report on Thursday, July 28th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $7.06.
Shares of Novavax (NASDAQ:NVAX) opened at 1.94 on Friday. Novavax has a 1-year low of $1.16 and a 1-year high of $9.56. The firm has a 50-day moving average price of $6.69 and a 200 day moving average price of $6.16. 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) EPS for the quarter, missing the consensus estimate of ($0.25) by $0.04. The firm 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 revenue for the quarter was down 82.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. On average, equities analysts anticipate that Novavax will post ($1.09) earnings per share for the current year.
In related news, Director Gail Boudreaux purchased 100,000 shares of the firm’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 completion of the purchase, the director now owns 200,000 shares in the company, valued at approximately $290,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.50% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of 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 boosted its stake in shares of 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 shares of Novavax during the first quarter valued at $1,677,000. DIAM Co. Ltd. boosted its stake in shares of 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 boosted its stake in shares of 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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