Novavax (NASDAQ:NVAX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, December 2nd.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Novavax from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Wednesday, August 16th. Ladenburg Thalmann Financial Services raised shares of Novavax from a “neutral” rating to a “buy” rating and set a $1.60 price target for the company in a research report on Wednesday, August 9th. Citigroup raised shares of Novavax from a “neutral” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Tuesday, October 31st. Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 price objective on shares of Novavax in a research report on Wednesday, November 8th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Novavax in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.12.
Novavax (NASDAQ NVAX) opened at $1.31 on Friday. Novavax has a one year low of $0.73 and a one year 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 released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $8.35 million for 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%. The firm’s revenue was up 158.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. research analysts forecast that Novavax will post -0.62 EPS for the current year.
In other news, insider Stanley C. Erck bought 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, for a total transaction 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 document filed with the SEC, which is available at this link. Company insiders own 4.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of NVAX. Vanguard Group Inc. boosted its holdings 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 period. Geode Capital Management LLC lifted its stake in Novavax by 18.3% in 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 acquiring an additional 371,295 shares during the last quarter. Credit Suisse AG lifted its stake in Novavax by 37.1% in the first quarter. Credit Suisse AG now owns 1,519,495 shares of the biopharmaceutical company’s stock valued at $1,945,000 after acquiring an additional 411,371 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Novavax by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 728,790 shares of the biopharmaceutical company’s stock valued at $933,000 after purchasing an additional 201,795 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Novavax by 287.7% in the second quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock valued at $546,000 after purchasing an additional 352,400 shares during the period. Institutional investors and hedge funds own 36.80% of the company’s stock.
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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.
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