Novavax Inc. (NVAX) Upgraded to “Hold” by Zacks Investment Research
Novavax Inc. (NASDAQ:NVAX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
A number of other research firms also recently weighed in on NVAX. Chardan Capital decreased their price target on Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday. Piper Jaffray Cos. downgraded Novavax from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $14.00 to $1.00 in a research note on Friday, September 16th. Vetr upgraded Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price target for the company in a research note on Wednesday, July 13th. Wedbush downgraded Novavax from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $14.00 to $2.00 in a research note on Friday, September 16th. Finally, Ladenburg Thalmann downgraded Novavax from a “buy” rating to a “neutral” rating in a research note on Friday, September 16th. Seven investment 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 presently has an average rating of “Hold” and a consensus price target of $7.06.
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Novavax (NASDAQ:NVAX) opened at 1.46 on Wednesday. The stock’s 50 day moving average price is $6.84 and its 200-day moving average price is $6.19. The firm’s market capitalization is $395.42 million. Novavax has a one year low of $1.16 and a one year high of $9.88.
Novavax (NASDAQ:NVAX) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $8.03 million. During the same period in the prior year, the business posted ($0.08) EPS. The firm’s quarterly revenue was down 82.1% compared to the same quarter last year. On average, equities research analysts expect that Novavax will post ($1.09) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in NVAX. 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 valued at $63,579,000 after buying an additional 3,527,714 shares during the period. 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 valued at $65,593,000 after buying an additional 3,849,585 shares during the period. Bellevue Group AG purchased a new stake in Novavax during the first quarter valued at about $1,677,000. DIAM Co. Ltd. increased its stake in Novavax by 2.6% in the second quarter. DIAM Co. Ltd. now owns 646,515 shares of the biopharmaceutical company’s stock valued at $4,635,000 after buying an additional 16,660 shares during the period. Finally, Mckinley Capital Management LLC Delaware increased its stake in Novavax by 99.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 980,955 shares of the biopharmaceutical company’s stock valued at $7,132,000 after buying an additional 489,306 shares during the period. Institutional investors and hedge funds own 79.84% of the company’s stock.
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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