Novavax (NASDAQ:NVAX) Earns Sell Rating from Analysts at Citigroup

Analysts at Citigroup initiated coverage on shares of Novavax (NASDAQ:NVAX) in a report released on Tuesday, MarketBeat.com reports. The firm set a “sell” rating and a $6.00 price target on the biopharmaceutical company’s stock. Citigroup’s target price would indicate a potential downside of 4.76% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 9th. TD Cowen upgraded shares of Novavax to a “hold” rating in a report on Thursday, February 27th. B. Riley restated a “buy” rating on shares of Novavax in a report on Monday, May 19th. Finally, BTIG Research began coverage on shares of Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.00.

Novavax Stock Down 2.9%

Shares of NVAX opened at $6.30 on Tuesday. The company has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $7.67. The company has a market capitalization of $1.02 billion, a PE ratio of 2.38, a P/E/G ratio of 0.07 and a beta of 2.80. Novavax has a 52-week low of $5.01 and a 52-week high of $17.81.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $2.22. The business had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. The business’s revenue was up 610.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.05) EPS. On average, research analysts anticipate that Novavax will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Novavax by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 15,726,250 shares of the biopharmaceutical company’s stock worth $126,439,000 after purchasing an additional 296,181 shares during the last quarter. Sanofi acquired a new position in shares of Novavax during the 4th quarter worth approximately $55,319,000. Geode Capital Management LLC raised its position in shares of Novavax by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 3,657,695 shares of the biopharmaceutical company’s stock worth $29,415,000 after purchasing an additional 155,206 shares during the last quarter. Park West Asset Management LLC acquired a new position in shares of Novavax during the 1st quarter worth approximately $16,210,000. Finally, Deep Track Capital LP acquired a new position in shares of Novavax during the 4th quarter worth approximately $16,080,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.