Citigroup Inc. Initiates Coverage on Novavax (NVAX)
Analysts at Citigroup Inc. started coverage on shares of Novavax (NASDAQ:NVAX) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Separately, analysts at FBR Capital Markets cut their price target on shares of Novavax from $11.00 to $10.00 in a research note on Thursday, August 7th. They now have an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a buy rating, Novavax currently has an average rating of “Buy” and a consensus price target of $10.50.
Shares of Novavax (NASDAQ:NVAX) opened at 4.34 on Wednesday. Novavax has a 1-year low of $2.37 and a 1-year high of $6.95. The stock’s 50-day moving average is $4.49 and its 200-day moving average is $4.78. The company’s market cap is $1.033 billion. Novavax also was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 28,597,396 shares, a growth of 6.2% from the July 15th total of 26,917,096 shares. Based on an average daily volume of 2,792,251 shares, the days-to-cover ratio is currently 10.2 days. Approximately 12.9% of the company’s stock are short sold.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.07) by $0.01. The company had revenue of $8.26 million for the quarter, compared to the consensus estimate of $8.74 million. During the same quarter last year, the company posted ($0.08) earnings per share. Novavax’s revenue was up 134.0% compared to the same quarter last year. On average, analysts predict that Novavax will post $-0.28 earnings per share for the current fiscal year.
Novavax, Inc (NASDAQ:NVAX), is a clinical stage biopharmaceutical company.
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