Novavax’s (NVAX) “Neutral” Rating Reaffirmed at Seaport Global Securities
Seaport Global Securities reiterated their neutral rating on shares of Novavax, Inc. (NASDAQ:NVAX) in a research note released on Friday. Seaport Global Securities also issued estimates for Novavax’s FY2017 earnings at ($0.63) EPS.
Other equities analysts have also issued reports about the company. Ladenburg Thalmann Financial Services raised Novavax from a neutral rating to a buy rating and set a $1.60 price objective on the stock in a research note on Wednesday, August 9th. Zacks Investment Research raised Novavax from a hold rating to a buy rating and set a $1.25 price objective on the stock in a research note on Wednesday, August 16th. BidaskClub raised Novavax from a sell rating to a hold rating in a research note on Monday, August 14th. Piper Jaffray Companies reaffirmed a hold rating and issued a $1.50 price objective on shares of Novavax in a research note on Wednesday, July 26th. Finally, Cantor Fitzgerald reaffirmed a hold rating and issued a $2.00 price objective on shares of Novavax in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $3.05.
Shares of Novavax (NVAX) traded down 0.86% during mid-day trading on Friday, hitting $1.15. The stock had a trading volume of 4,392,245 shares. Novavax has a 1-year low of $0.73 and a 1-year high of $1.93. The stock’s 50-day moving average is $1.12 and its 200-day moving average is $1.07. The firm’s market capitalization is $333.39 million.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The company had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.15 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,006.00%. The firm’s quarterly revenue was up 168.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) earnings per share. Equities analysts expect that Novavax will post ($0.62) earnings per share for the current year.
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In other Novavax news, Director James F. Young sold 175,000 shares of Novavax stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. increased its holdings in Novavax by 49.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 29,800 shares in the last quarter. Profund Advisors LLC increased its holdings in Novavax by 0.4% in the second quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after purchasing an additional 455 shares in the last quarter. Voya Investment Management LLC increased its holdings in Novavax by 18.6% in the second quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 21,639 shares in the last quarter. HighTower Advisors LLC increased its holdings in Novavax by 3.8% in the first quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after purchasing an additional 5,250 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 10,965 shares in the last quarter. Institutional investors and hedge funds own 45.17% of the company’s stock.
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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