Novavax Inc. (NVAX) Upgraded at Zacks Investment Research
Novavax Inc. (NASDAQ:NVAX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
NVAX has been the subject of a number of other research reports. Chardan Capital reduced their price objective on Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday. Piper Jaffray Cos. lowered Novavax from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $1.00 in a research report on Friday, September 16th. Vetr upgraded Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price objective for the company in a research report on Wednesday, July 13th. Wedbush lowered Novavax from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $14.00 to $2.00 in a research report on Friday, September 16th. Finally, Ladenburg Thalmann lowered Novavax from a “buy” rating to a “neutral” rating in a research report on Friday, September 16th. Seven equities research 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. Novavax has a consensus rating of “Hold” and a consensus target price of $7.06.
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Novavax (NASDAQ:NVAX) traded up 32.88% during midday trading on Wednesday, hitting $1.94. The stock had a trading volume of 95,325,085 shares. The company’s market cap is $525.42 million. The company has a 50-day moving average price of $6.69 and a 200-day moving average price of $6.16. Novavax has a 12-month low of $1.16 and a 12-month high of $9.56.
Novavax (NASDAQ:NVAX) last issued 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 analyst estimates of $8.03 million. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. Novavax’s revenue was down 82.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. Equities analysts anticipate that Novavax will post ($1.09) EPS for the current year.
In other news, Director Gail Boudreaux acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were bought at an average price of $1.45 per share, with a total value of $145,000.00. Following the purchase, the director now owns 200,000 shares of the company’s stock, valued at $290,000. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.50% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares in the last quarter. State Street Corp increased its stake in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Deerfield Management Co. purchased a new stake in Novavax during the first quarter worth approximately $12,674,000. Norges Bank purchased a new stake in Novavax during the fourth quarter worth approximately $18,862,000. Finally, Franklin Resources Inc. increased its stake in Novavax by 71.8% in the first quarter. Franklin Resources Inc. now owns 5,226,565 shares of the biopharmaceutical company’s stock worth $26,969,000 after buying an additional 2,183,700 shares in the last quarter. 79.84% of the stock is currently owned by institutional investors.
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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