Wedbush Lowers Novavax Inc. (NVAX) to Neutral
Wedbush cut shares of Novavax Inc. (NASDAQ:NVAX) from an outperform rating to a neutral rating in a research report report published on Friday. They currently have $2.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $14.00.
A number of other research analysts also recently weighed in on NVAX. Zacks Investment Research raised Novavax from a sell rating to a hold rating in a report on Friday, June 10th. Vetr raised Novavax from a buy rating to a strong-buy rating and set a $8.35 price objective on the stock in a research note on Wednesday, July 13th. Chardan Capital reaffirmed a hold rating and issued a $5.75 price objective on shares of Novavax in a research note on Sunday, August 14th. Finally, Citigroup Inc. raised their price objective on Novavax from $10.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, July 28th. 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 stock. The company has an average rating of Hold and a consensus target price of $7.06.
Shares of Novavax (NASDAQ:NVAX) opened at 1.46 on Friday. The company has a 50-day moving average price of $6.84 and a 200-day moving average price of $6.19. The company’s market cap is $395.42 million. Novavax has a 52-week low of $1.16 and a 52-week high of $9.88.
Novavax (NASDAQ:NVAX) last posted its earnings results 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. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm earned $2.50 million during the quarter, compared to the consensus estimate of $8.03 million. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s revenue was down 82.1% compared to the same quarter last year. On average, equities analysts predict that Novavax will post ($1.09) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in NVAX. IFP Advisors Inc boosted its position in Novavax by 18.4% in the second quarter. IFP Advisors Inc now owns 33,500 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 5,204 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Novavax by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 959,708 shares of the biopharmaceutical company’s stock valued at $6,978,000 after buying an additional 36,684 shares in the last quarter. Stifel Financial Corp boosted its position in Novavax by 1.9% in the second quarter. Stifel Financial Corp now owns 21,990 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 400 shares in the last quarter. Amalgamated Bank boosted its position in Novavax by 1.1% in the second quarter. Amalgamated Bank now owns 28,525 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 300 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Novavax by 16.0% in the second quarter. Legal & General Group Plc now owns 70,431 shares of the biopharmaceutical company’s stock valued at $510,000 after buying an additional 9,694 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.
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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