HC Wainwright Reaffirms Buy Rating for Sinovac Biotech (NASDAQ:SVA)

Sinovac Biotech (NASDAQ:SVA)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $1.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $6.00. HC Wainwright’s price target indicates a potential downside of 84.54% from the company’s previous close.

Sinovac Biotech Price Performance

Shares of Sinovac Biotech stock remained flat at $6.47 during trading on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.97 and a current ratio of 6.07. The business has a 50-day moving average of $6.47 and a two-hundred day moving average of $6.47. Sinovac Biotech has a 1 year low of $5.73 and a 1 year high of $8.75.

Institutional Trading of Sinovac Biotech

Institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System bought a new position in shares of Sinovac Biotech during the second quarter worth approximately $445,000. Geode Capital Management LLC bought a new stake in shares of Sinovac Biotech in the second quarter valued at approximately $179,000. Finally, Bank of America Corp DE bought a new stake in shares of Sinovac Biotech in the second quarter valued at approximately $38,000.

Sinovac Biotech Company Profile

Sinovac Biotech Ltd., a biopharmaceutical company, focuses in the research, development, manufacture, and commercialization of vaccines against human infectious diseases in the People's Republic of China. The company's product portfolio includes vaccines against hepatitis A and B; hand, foot, and mouth diseases caused by enterovirus 71 (EV71); seasonal influenza; H5N1 and H1N1 pandemic influenza; coronavirus; varicella; and mumps. Its marketed products include Healive, an inactivated hepatitis A vaccine; Bilive, a combined inactivated hepatitis A and B vaccine; Anflu, a split viron influenza vaccine; Panflu, a vaccine against the H5N1 influenza virus; Panflu.1, a vaccine against the influenza A H1N1 virus; mumps vaccine to treat viral disease in human species; split viron pandemic influenza vaccine; and Inlive, an EV71 vaccine.