Novavax, Inc. (NASDAQ:NVAX) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Novavax, Inc. (NASDAQ:NVAX) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
A number of other equities analysts have also commented on NVAX. Cantor Fitzgerald set a $2.00 price target on Novavax and gave the stock a hold rating in a report on Monday, May 8th. ValuEngine lowered Novavax from a sell rating to a strong sell rating in a report on Friday, June 2nd. BidaskClub lowered Novavax from a hold rating to a sell rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $1.50 price target on shares of Novavax in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given 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 $5.61.
Shares of Novavax (NASDAQ NVAX) opened at 0.9596 on Wednesday. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49. The stock’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.18. The company’s market capitalization is $271.18 million.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,466.36%. The firm had revenue of $5.68 million during the quarter, compared to analyst estimates of $6.17 million. During the same period last year, the company earned ($0.29) earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. On average, equities analysts expect that Novavax will post ($0.61) earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Novavax, Inc. (NASDAQ:NVAX) Downgraded to Hold at Zacks Investment Research” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.watchlistnews.com/novavax-inc-nasdaqnvax-downgraded-to-hold-at-zacks-investment-research/1462457.html.
In other Novavax news, insider Stanley C. Erck acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average price of $0.84 per share, with a total value of $42,000.00. Following the completion of the purchase, the insider now owns 128,279 shares of the company’s stock, valued at $107,754.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 105,000 shares of company stock valued at $90,800 in the last three months. 4.00% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock valued at $25,163,000 after buying an additional 9,947,481 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Novavax during the fourth quarter valued at about $544,000. Metropolitan Life Insurance Co. NY raised its stake in Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 5,704 shares in the last quarter. Norges Bank acquired a new stake in Novavax during the fourth quarter valued at about $3,300,000. Finally, Teachers Advisors LLC raised its stake in Novavax by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 455,686 shares of the biopharmaceutical company’s stock valued at $574,000 after buying an additional 18,519 shares in the last quarter. 50.04% of the stock is owned by institutional investors.
Novavax, Inc 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Novavax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.