BidaskClub Downgrades Novavax (NVAX) to Hold

Novavax (NASDAQ:NVAX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

NVAX has been the subject of several other reports. Citigroup upgraded Novavax from a “neutral” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Tuesday, October 31st. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Ladenburg Thalmann Financial Services upgraded Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price target for the company in a research note on Wednesday, August 9th. Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 price target on shares of Novavax in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.12.

Shares of Novavax (NVAX) traded up $0.07 during trading hours on Friday, hitting $1.43. The stock had a trading volume of 6,552,664 shares, compared to its average volume of 5,031,269. Novavax has a 12 month low of $0.73 and a 12 month high of $1.78. The company has a debt-to-equity ratio of -4.28, a current ratio of 3.31 and a quick ratio of 3.31.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The company had revenue of $8.35 million during the quarter, compared to analysts’ expectations of $6.42 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The business’s revenue was up 158.5% on a year-over-year basis. sell-side analysts predict that Novavax will post -0.62 earnings per share for the current fiscal year.

In other news, insider Stanley C. Erck acquired 100,000 shares of the stock in a transaction on Thursday, November 9th. The stock was acquired at an average cost of $1.13 per share, for a total transaction of $113,000.00. Following the completion of the transaction, the insider now directly owns 228,279 shares in the company, valued at $257,955.27. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. raised its position in Novavax by 74.8% during the third quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 69,600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Novavax by 6.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,225,018 shares of the biopharmaceutical company’s stock valued at $1,397,000 after purchasing an additional 71,047 shares in the last quarter. Wells Fargo & Company MN raised its position in Novavax by 30.8% during the third quarter. Wells Fargo & Company MN now owns 446,831 shares of the biopharmaceutical company’s stock valued at $509,000 after purchasing an additional 105,117 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Novavax by 19.6% during the third quarter. Canada Pension Plan Investment Board now owns 567,800 shares of the biopharmaceutical company’s stock valued at $647,000 after purchasing an additional 92,900 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Novavax by 49.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 29,800 shares in the last quarter. Institutional investors and hedge funds own 36.98% of the company’s stock.

WARNING: “BidaskClub Downgrades Novavax (NVAX) to Hold” was posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/12/02/bidaskclub-downgrades-novavax-nvax-to-hold.html.

Novavax Company Profile

Novavax, Inc 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.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

Receive News & Ratings for Novavax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply