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Novavax (NASDAQ:NVAX) was the target of some unusual options trading activity on Friday. Stock investors purchased 7,021 put options on the company, American Banking reports. This is an increase of 731% compared to the average volume of 845 put options.

Separately, analysts at Ladenburg Thalmann raised their price target on shares of Novavax from $4.00 to $10.00 in a research note on Tuesday, March 11th. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a buy rating, Novavax has an average rating of “Buy” and an average target price of $10.70.

Novavax (NASDAQ:NVAX) traded down 7.85% during mid-day trading on Friday, hitting $4.165. The stock had a trading volume of 23,856,120 shares. Novavax has a 52 week low of $1.81 and a 52 week high of $6.95. The stock has a 50-day moving average of $4.38 and a 200-day moving average of $4.84. The company’s market cap is $871.5 million.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.07). The company had revenue of $7.50 million for the quarter, compared to the consensus estimate of $3.80 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 97.4% on a year-over-year basis. Analysts expect that Novavax will post $-0.28 EPS for the current fiscal year.

Novavax, Inc (NASDAQ:NVAX), is a clinical stage biopharmaceutical company.

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