Novavax (NASDAQ:NVAX) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, December 2nd.
NVAX has been the topic of several other reports. Zacks Investment Research cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Ladenburg Thalmann Financial Services raised shares of Novavax from a “neutral” rating to a “buy” rating and set a $1.60 target price on the stock in a research report on Wednesday, August 9th. Citigroup upgraded shares of Novavax from a “neutral” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Tuesday, October 31st. Seaport Global Securities restated a “neutral” rating on shares of Novavax in a report on Friday, October 6th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $2.00 price target on shares of Novavax in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Novavax currently has an average rating of “Hold” and an average target price of $3.12.
Shares of Novavax (NVAX) opened at $1.33 on Friday. Novavax has a 12-month low of $0.73 and a 12-month high of $1.78. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. Novavax had a negative net margin of 726.35% and a negative return on equity of 787.38%. Novavax’s quarterly revenue was up 158.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) EPS. equities research analysts expect that Novavax will post -0.62 EPS for the current fiscal year.
In other Novavax news, insider Stanley C. Erck acquired 100,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $1.13 per share, with a total value of $113,000.00. Following the completion of the acquisition, the insider now directly owns 228,279 shares in the company, valued at approximately $257,955.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NVAX. Vanguard Group Inc. raised its stake 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 valued at $27,752,000 after purchasing an additional 938,581 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $3,073,000 after purchasing an additional 371,295 shares in the last quarter. Credit Suisse AG raised its position in Novavax by 37.1% in the first quarter. Credit Suisse AG now owns 1,519,495 shares of the biopharmaceutical company’s stock worth $1,945,000 after acquiring an additional 411,371 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Novavax by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 728,790 shares of the biopharmaceutical company’s stock worth $933,000 after acquiring an additional 201,795 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Novavax by 287.7% in the second quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock worth $546,000 after acquiring an additional 352,400 shares in the last quarter. Institutional investors and hedge funds own 36.80% of the company’s stock.
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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