BidaskClub cut shares of Novavax (NASDAQ:NVAX) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.
Several other research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Novavax from a neutral rating to an underweight rating in a report on Monday, March 19th. Zacks Investment Research raised Novavax from a hold rating to a buy rating and set a $2.25 target price on the stock in a report on Wednesday, April 11th. Seaport Global Securities raised Novavax from a neutral rating to a buy rating and set a $5.00 target price on the stock in a report on Thursday, March 29th. Piper Jaffray Companies dropped their price objective on Novavax to $2.00 and set a neutral rating on the stock in a research note on Tuesday, April 17th. Finally, LADENBURG THALM/SH SH reissued a buy rating and issued a $3.50 price objective on shares of Novavax in a research note on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Novavax has a consensus rating of Hold and a consensus price target of $3.37.
Shares of Novavax opened at $1.34 on Thursday, according to Marketbeat.com. The stock has a market cap of $511.44 million, a price-to-earnings ratio of -2.13 and a beta of 2.49. Novavax has a 12 month low of $0.91 and a 12 month high of $2.75. The company has a debt-to-equity ratio of -3.20, a quick ratio of 4.03 and a current ratio of 4.03.
Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The business had revenue of $9.70 million during the quarter, compared to analysts’ expectations of $9.33 million. The company’s revenue for the quarter was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. equities research analysts forecast that Novavax will post -0.52 EPS for the current year.
In other news, insider Stanley C. Erck purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average cost of $1.65 per share, with a total value of $165,000.00. Following the purchase, the insider now owns 328,279 shares in the company, valued at $541,660.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Trizzino purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were purchased at an average cost of $1.64 per share, for a total transaction of $82,000.00. Following the completion of the purchase, the senior vice president now owns 138,965 shares in the company, valued at approximately $227,902.60. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. EAM Global Investors LLC acquired a new position in Novavax during the 1st quarter worth approximately $1,021,000. Suntrust Banks Inc. acquired a new position in Novavax during the 1st quarter worth approximately $161,000. Xact Kapitalforvaltning AB acquired a new position in Novavax during the 1st quarter worth approximately $119,000. Millennium Management LLC raised its stake in Novavax by 338.9% during the 1st quarter. Millennium Management LLC now owns 5,319,314 shares of the biopharmaceutical company’s stock worth $11,171,000 after buying an additional 4,107,352 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Novavax during the 1st quarter worth approximately $236,000. 40.45% of the stock is currently owned by institutional investors and hedge funds.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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