Novavax Inc. (NVAX) Downgraded by Vetr Inc.
Novavax Inc. (NASDAQ:NVAX) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $7.77 target price on the biopharmaceutical company’s stock. Vetr‘s target price would indicate a potential upside of 398.08% from the company’s current price.
Several other research firms have also weighed in on NVAX. Piper Jaffray Cos. reiterated an “overweight” rating and set a $14.00 target price on shares of Novavax in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Novavax in a research note on Thursday, June 2nd. Finally, Chardan Capital assumed coverage on shares of Novavax in a research report on Monday, April 4th. They set a “neutral” rating and a $5.75 price target for the company. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.06.
Shares of Novavax (NASDAQ:NVAX) traded down 4.29% during mid-day trading on Monday, hitting $1.56. 9,370,024 shares of the company traded hands. Novavax has a 52-week low of $1.16 and a 52-week high of $9.23. The firm’s market cap is $422.50 million. The firm has a 50-day moving average price of $4.12 and a 200 day moving average price of $5.77.
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Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share 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 the consensus estimate of $8.03 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was down 82.1% on a year-over-year basis. Equities research analysts anticipate that Novavax will post ($1.09) EPS for the current fiscal year.
In related news, Director Gail Boudreaux bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $145,000.00. Following the transaction, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $290,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Trizzino bought 46,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was bought at an average price of $2.17 per share, with a total value of $99,820.00. Following the transaction, the senior vice president now directly owns 85,564 shares in the company, valued at $185,673.88. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of 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 shares of 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 during the last quarter. Deerfield Management Co. acquired a new stake in shares of Novavax during the first quarter worth $12,674,000. Norges Bank acquired a new stake in shares of Novavax during the fourth quarter worth $18,862,000. Finally, Franklin Resources Inc. increased its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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