Novavax Inc. (NVAX) Given Outperform Rating at FBR & Co
Novavax Inc. (NASDAQ:NVAX)‘s stock had its “outperform” rating restated by investment analysts at FBR & Co in a note issued to investors on Monday. They presently have a $12.00 price target on the biopharmaceutical company’s stock.
A number of other research firms have also weighed in on NVAX. Vetr lowered shares of Novavax from a “buy” rating to a “hold” rating and set a $7.86 target price for the company. in a report on Tuesday, August 9th. Piper Jaffray Cos. lowered shares of Novavax from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $1.00 in a report on Friday, September 16th. Citigroup Inc. lowered shares of Novavax from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $12.00 to $1.50 in a report on Friday, September 16th. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Finally, Chardan Capital dropped their target price on shares of Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, September 20th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.06.
Shares of Novavax (NASDAQ:NVAX) traded up 3.89% during mid-day trading on Monday, reaching $1.87. The company’s stock had a trading volume of 4,597,902 shares. The company’s market cap is $506.46 million. Novavax has a 12 month low of $1.16 and a 12 month high of $9.23. The company has a 50-day moving average of $4.89 and a 200-day moving average of $5.90.
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Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the 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 business had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was down 82.1% on a year-over-year basis. Equities research analysts forecast that Novavax will post ($1.09) earnings per share for the current fiscal year.
In other Novavax news, Director Gail Boudreaux bought 100,000 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was acquired at an average price of $1.45 per share, with a total value of $145,000.00. Following the completion of the purchase, the director now owns 200,000 shares of the company’s stock, valued at $290,000. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Trizzino bought 46,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were acquired at an average cost of $2.17 per share, with a total value of $99,820.00. Following the purchase, the senior vice president now directly owns 85,564 shares of the company’s stock, valued at approximately $185,673.88. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in NVAX. Coldstream Capital Management Inc. increased its position in shares of Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 2,055 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Novavax during the second quarter valued at $102,000. Veritable L.P. purchased a new stake in shares of Novavax during the second quarter valued at $102,000. BlackRock Inc. increased its stake in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 11,547 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of Novavax during the second quarter valued at $119,000. 79.84% of the stock is owned by institutional investors and hedge funds.
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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