Piper Jaffray Cos. downgraded shares of Novavax Inc. (NASDAQ:NVAX) from an overweight rating to a neutral rating in a research report sent to investors on Friday.

Several other brokerages have also recently issued reports on NVAX. Wedbush cut shares of Novavax from an outperform rating to a neutral rating and reduced their price target for the stock from $14.00 to $2.00 in a research report on Friday. Ladenburg Thalmann cut shares of Novavax from a buy rating to a neutral rating in a research report on Friday. FBR & Co reduced their price target on shares of Novavax from $17.00 to $12.00 and set an outperform rating on the stock in a research report on Friday. Vetr cut shares of Novavax from a buy rating to a hold rating and set a $7.86 price target on the stock. in a research report on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of Novavax from a hold rating to a sell rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Novavax has an average rating of Hold and a consensus price target of $8.78.

Shares of Novavax (NASDAQ:NVAX) opened at 1.4299 on Friday. The firm’s 50-day moving average is $7.29 and its 200 day moving average is $6.21. The stock’s market cap is $387.27 million. Novavax has a 52-week low of $1.38 and a 52-week high of $10.70.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.04. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The company earned $2.50 million during the quarter, compared to analyst estimates of $8.03 million. During the same period in the previous year, the company earned ($0.08) EPS. The company’s quarterly revenue was down 82.1% compared to the same quarter last year. Analysts forecast that Novavax will post ($1.09) earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in NVAX. State Street Corp raised its position in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares in the last quarter. Bellevue Group AG bought a new position in shares of Novavax during the first quarter valued at approximately $1,677,000. DIAM Co. Ltd. raised its position in shares of Novavax by 2.6% in the second quarter. DIAM Co. Ltd. now owns 646,515 shares of the biopharmaceutical company’s stock valued at $4,635,000 after buying an additional 16,660 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its position in shares of Novavax by 99.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 980,955 shares of the biopharmaceutical company’s stock valued at $7,132,000 after buying an additional 489,306 shares in the last quarter. Institutional investors own 79.84% of the company’s stock.

About Novavax

Novavax, Inc (Novavax) 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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