Novavax Inc. (NASDAQ:NVAX) had its target price trimmed by S&P Equity Research from $1.44 to $1.17 in a research report released on Friday morning.

Several other research firms also recently weighed in on NVAX. Vetr downgraded shares of Novavax from a buy rating to a hold rating and set a $7.86 target price for the company. in a report on Tuesday, August 9th. Piper Jaffray Cos. downgraded shares of Novavax from an overweight rating to a neutral rating and lowered their price target for the stock from $14.00 to $1.00 in a report on Friday, September 16th. Citigroup Inc. downgraded shares of Novavax from a buy rating to a neutral rating and lowered their price target for the stock from $12.00 to $1.50 in a report on Friday, September 16th. Wedbush reiterated an outperform rating and set a $14.00 price target on shares of Novavax in a report on Thursday, June 2nd. Finally, FBR & Co set a $17.00 price target on shares of Novavax and gave the stock a buy rating in a report on Thursday, August 11th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Novavax currently has an average rating of Hold and an average price target of $7.06.

Shares of Novavax (NASDAQ:NVAX) opened at 1.46 on Friday. Novavax has a 52 week low of $1.16 and a 52 week high of $9.88. The company’s 50-day moving average is $6.84 and its 200 day moving average is $6.19. The stock’s market capitalization is $395.42 million.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ 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 last year, the business posted ($0.08) earnings per share. The business’s revenue was down 82.1% compared to the same quarter last year. On average, equities analysts forecast that Novavax will post ($1.09) EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted 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 worth $65,593,000 after buying an additional 3,849,585 shares during the period. State Street Corp boosted 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 worth $63,579,000 after buying an additional 3,527,714 shares during the period. Deerfield Management Co. acquired a new position in shares of Novavax during the first quarter worth $12,674,000. Norges Bank acquired a new position in shares of Novavax during the fourth quarter worth $18,862,000. Finally, Franklin Resources Inc. boosted its position in shares of Novavax by 71.8% in the first quarter. Franklin Resources Inc. now owns 5,226,565 shares of the biopharmaceutical company’s stock worth $26,969,000 after buying an additional 2,183,700 shares during the period. 79.84% of the stock is currently owned by institutional investors and hedge funds.

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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