Citigroup Inc. downgraded shares of Novavax Inc. (NASDAQ:NVAX) from a buy rating to a neutral rating in a report released on Friday morning. They currently have $1.50 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $12.00.

Several other analysts have also commented on NVAX. Zacks Investment Research upgraded Novavax from a sell rating to a hold rating in a report on Friday, June 10th. Piper Jaffray Cos. lowered Novavax from an overweight rating to a neutral rating and reduced their target price for the stock from $14.00 to $1.00 in a research note on Friday, September 16th. Vetr upgraded Novavax from a buy rating to a strong-buy rating and set a $8.35 target price for the company in a research note on Wednesday, July 13th. Wedbush lowered Novavax from an outperform rating to a neutral rating and reduced their target price for the stock from $14.00 to $2.00 in a research note on Friday, September 16th. Finally, Ladenburg Thalmann lowered Novavax from a buy rating to a neutral rating in a research note on Friday, September 16th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $7.06.

Novavax (NASDAQ:NVAX) opened at 1.94 on Friday. The stock has a 50 day moving average price of $6.69 and a 200 day moving average price of $6.16. The stock’s market capitalization is $525.42 million. Novavax has a 12 month low of $1.16 and a 12 month high of $9.56.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) EPS for the quarter, missing the 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 business had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $8.03 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was down 82.1% on a year-over-year basis. Equities analysts predict that Novavax will post ($1.09) EPS for the current fiscal year.

In related news, Director Gail Boudreaux purchased 100,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $1.45 per share, with a total value of $145,000.00. Following the transaction, the director now owns 200,000 shares of the company’s stock, valued at $290,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Novavax during the fourth quarter valued at $18,862,000. Commonwealth Equity Services Inc boosted its stake in Novavax by 14.8% in the first quarter. Commonwealth Equity Services Inc now owns 166,375 shares of the biopharmaceutical company’s stock worth $858,000 after buying an additional 21,425 shares during the period. IFP Advisors Inc boosted its stake in Novavax by 1.7% in the first quarter. IFP Advisors Inc now owns 28,296 shares of the biopharmaceutical company’s stock worth $146,000 after buying an additional 480 shares during the period. Parametrica Management Ltd acquired a new stake in Novavax during the first quarter worth approximately $107,000. Finally, Teachers Advisors Inc. boosted its stake in Novavax by 3.0% in the first quarter. Teachers Advisors Inc. now owns 669,183 shares of the biopharmaceutical company’s stock worth $3,453,000 after buying an additional 19,355 shares during the period. 79.84% of the stock is currently owned by institutional investors.

Novavax Company Profile

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.

5 Day Chart for NASDAQ:NVAX

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