Novavax, Inc. (NASDAQ:NVAX) Lifted to Buy at Ladenburg Thalmann Financial Services
Novavax, Inc. (NASDAQ:NVAX) was upgraded by research analysts at Ladenburg Thalmann Financial Services from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.
Several other equities research analysts have also issued reports on the company. BidaskClub lowered Novavax from a “hold” rating to a “sell” rating in a research report on Saturday. Chardan Capital reissued a “neutral” rating and set a $1.50 price target on shares of Novavax in a research report on Thursday, July 27th. Zacks Investment Research lowered Novavax from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Piper Jaffray Companies reissued a “hold” rating and set a $1.50 price target on shares of Novavax in a research report on Wednesday, July 26th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price target on shares of Novavax in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Novavax presently has an average rating of “Hold” and an average target price of $5.61.
Novavax (NASDAQ NVAX) opened at 0.9712 on Wednesday. Novavax has a 12 month low of $0.73 and a 12 month high of $8.49. The stock’s market capitalization is $274.46 million. The stock’s 50 day moving average is $1.17 and its 200-day moving average is $1.16.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. The business had revenue of $5.68 million for the quarter, compared to analyst estimates of $6.17 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,466.36%. The business’s revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS. On average, equities research analysts expect that Novavax will post ($0.61) earnings per share for the current year.
In related news, insider Stanley C. Erck bought 50,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $0.84 per share, with a total value of $42,000.00. Following the completion of the transaction, the insider now directly owns 128,279 shares of the company’s stock, valued at $107,754.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 107,057 shares of company stock worth $92,631 over the last ninety days. 4.00% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of Novavax during the first quarter valued at $157,000. HighTower Advisors LLC raised its stake in shares of Novavax by 3.8% in the first quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 5,250 shares in the last quarter. American International Group Inc. raised its stake in shares of Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock valued at $213,000 after buying an additional 10,965 shares in the last quarter. KCG Holdings Inc. raised its stake in shares of Novavax by 161.0% in the first quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 110,292 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in shares of Novavax during the second quarter valued at $230,000. 50.16% of the stock is currently owned by hedge funds and other institutional investors.
Novavax Company Profile
Novavax, Inc 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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