BidaskClub cut shares of Novavax (NASDAQ:NVAX) from a buy rating to a hold rating in a report published on Saturday.
NVAX has been the subject of several other reports. Zacks Investment Research downgraded Novavax from a hold rating to a sell rating in a report on Thursday, November 16th. 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 report on Wednesday, August 9th. Citigroup upgraded Novavax from a neutral rating to a buy rating and set a $2.00 price target for the company in a report on Tuesday, October 31st. Seaport Global Securities reiterated a neutral rating on shares of Novavax in a report on Friday, October 6th. Finally, Cantor Fitzgerald reiterated a hold rating and issued a $2.00 price target on shares of Novavax in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $3.12.
Shares of Novavax (NVAX) opened at $1.46 on Friday. Novavax has a twelve month low of $0.73 and a twelve 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 announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. During the same period in the prior year, the firm earned ($0.24) EPS. The firm’s quarterly revenue was up 158.5% compared to the same quarter last year. analysts predict that Novavax will post -0.62 EPS for the current fiscal year.
In other news, insider Stanley C. Erck acquired 100,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $1.13 per share, with a total value of $113,000.00. Following the transaction, the insider now directly owns 228,279 shares in the company, valued at approximately $257,955.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Novavax by 4.5% during the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock worth $27,752,000 after purchasing an additional 938,581 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Novavax by 40.1% during the second quarter. JPMorgan Chase & Co. now owns 5,196,508 shares of the biopharmaceutical company’s stock worth $5,976,000 after purchasing an additional 1,488,403 shares during the last quarter. Northern Trust Corp lifted its position in shares of Novavax by 2.8% during the second quarter. Northern Trust Corp now owns 3,376,714 shares of the biopharmaceutical company’s stock worth $3,883,000 after purchasing an additional 92,854 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Novavax by 18.3% during the first quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock worth $3,073,000 after purchasing an additional 371,295 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Novavax by 38.7% during the second quarter. GSA Capital Partners LLP now owns 1,690,153 shares of the biopharmaceutical company’s stock worth $1,944,000 after purchasing an additional 471,347 shares during the last quarter. 36.80% of the stock is currently owned by institutional investors and hedge funds.
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.
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