Zacks Investment Research downgraded shares of Novavax (NASDAQ:NVAX) from a buy rating to a hold rating in a research report released on Thursday.

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. “

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Several other research firms have also recently weighed in on NVAX. BidaskClub upgraded shares of Novavax from a buy rating to a strong-buy rating in a research report on Wednesday, February 21st. Citigroup upped their target price on shares of Novavax from $2.00 to $2.75 and gave the company a neutral rating in a research report on Wednesday, February 21st. Ladenburg Thalmann Financial Services reiterated a buy rating and set a $3.50 target price on shares of Novavax in a research report on Thursday, March 1st. B. Riley set a $10.00 target price on shares of Novavax and gave the company a buy rating in a research report on Thursday, March 1st. Finally, Chardan Capital reiterated a hold rating on shares of Novavax in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.23.

Novavax stock traded up $0.04 during mid-day trading on Thursday, reaching $2.06. 1,862,817 shares of the company traded hands, compared to its average volume of 12,010,034. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of -3.12. Novavax has a 1 year low of $0.73 and a 1 year high of $2.75. The company has a market cap of $728.73, a PE ratio of -3.26 and a beta of 2.50.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $10.40 million for the quarter, compared to analysts’ expectations of $7.98 million. During the same period in the previous year, the business earned ($0.21) EPS. Novavax’s revenue was up 92.6% compared to the same quarter last year. equities research analysts anticipate that Novavax will post -0.54 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new position in Novavax in the 4th quarter worth $172,000. Teachers Advisors LLC boosted its stake in Novavax by 17.2% in the 4th quarter. Teachers Advisors LLC now owns 583,645 shares of the biopharmaceutical company’s stock worth $724,000 after purchasing an additional 85,611 shares during the period. California State Teachers Retirement System boosted its stake in Novavax by 8.3% in the 4th quarter. California State Teachers Retirement System now owns 492,492 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 37,793 shares during the period. Two Sigma Investments LP bought a new stake in Novavax during the 4th quarter worth about $215,000. Finally, Deutsche Bank AG lifted its position in Novavax by 6.3% during the 4th quarter. Deutsche Bank AG now owns 2,567,169 shares of the biopharmaceutical company’s stock worth $3,182,000 after buying an additional 152,974 shares in the last quarter. 39.22% of the stock is owned by hedge funds and other institutional investors.

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About Novavax

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.

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