Novavax Inc. (NASDAQ:NVAX) had its price target reduced by FBR & Co from $17.00 to $12.00 in a research report released on Friday. They currently have an outperform rating on the biopharmaceutical company’s stock.

NVAX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Novavax from a sell rating to a hold rating in a research note on Saturday, May 28th. Chardan Capital reiterated a hold rating and set a $5.75 price objective on shares of Novavax in a research note on Sunday, August 14th. Citigroup Inc. increased their price objective on shares of Novavax from $10.00 to $12.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Guggenheim reiterated a buy rating and set a $25.00 price objective on shares of Novavax in a research note on Monday, August 29th. Finally, Wedbush reiterated an outperform rating and set a $14.00 price objective on shares of Novavax in a research note on Wednesday, May 25th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $7.06.

Shares of Novavax (NASDAQ:NVAX) opened at 1.46 on Friday. The stock’s market cap is $395.42 million. The firm has a 50-day moving average price of $6.84 and a 200-day moving average price of $6.19. Novavax has a one year low of $1.16 and a one year high of $9.88.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in 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 during the period. Wellington Management Group LLP boosted its position in 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 during the period. Bellevue Group AG bought a new position in Novavax during the first quarter valued at about $1,677,000. DIAM Co. Ltd. boosted its position in 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 during the period. Finally, Mckinley Capital Management LLC Delaware boosted its position in 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 during the period. Hedge funds and other 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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