Novavax (NASDAQ:NVAX) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, December 19th, Marketbeat Ratings reports. They presently have a $1.00 target price on the biopharmaceutical company’s stock. Citigroup’s price objective indicates a potential downside of 49.49% from the stock’s previous close.
Several other research analysts have also recently commented on NVAX. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Cantor Fitzgerald restated a “hold” rating and set a $2.00 price objective on shares of Novavax in a research note on Wednesday, November 8th. Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Finally, BidaskClub cut Novavax from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $3.68.
Shares of Novavax (NASDAQ NVAX) traded down $0.14 on Tuesday, hitting $1.98. The company’s stock had a trading volume of 40,800,000 shares, compared to its average volume of 9,110,000. The firm has a market capitalization of $620.96, a PE ratio of -2.91 and a beta of 2.03. Novavax has a 12 month low of $0.73 and a 12 month high of $2.14. The company has a debt-to-equity ratio of -4.28, a quick ratio of 3.31 and a current ratio of 3.31.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $8.35 million during the quarter, compared to analyst estimates of $6.42 million. During the same quarter last year, the firm posted ($0.24) EPS. The company’s revenue was up 158.5% compared to the same quarter last year. analysts predict that Novavax will post -0.62 EPS for the current year.
In other Novavax news, insider Stanley C. Erck acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $1.13 per share, with a total value of $113,000.00. Following the acquisition, the insider now directly owns 228,279 shares of the company’s stock, valued at approximately $257,955.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of NVAX. Canada Pension Plan Investment Board grew its holdings in Novavax by 287.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock worth $546,000 after buying an additional 352,400 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Novavax by 39.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock worth $1,328,000 after purchasing an additional 326,415 shares during the period. Rhumbline Advisers lifted its position in Novavax by 7.2% in the second quarter. Rhumbline Advisers now owns 346,968 shares of the biopharmaceutical company’s stock worth $399,000 after purchasing an additional 23,410 shares during the period. State of Wisconsin Investment Board acquired a new stake in Novavax in the second quarter worth approximately $230,000. Finally, Bank of New York Mellon Corp lifted its position in Novavax by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,610 shares of the biopharmaceutical company’s stock worth $1,600,000 after purchasing an additional 176,510 shares during the period. 35.69% of the stock is owned by institutional investors and hedge funds.
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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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