Novavax (NVAX) Downgraded by Zacks Investment Research

Novavax (NASDAQ:NVAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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 research analysts have also recently issued reports on NVAX. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Citigroup upgraded Novavax from a “neutral” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Tuesday, October 31st. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price objective on shares of Novavax in a research note on Wednesday, November 8th. BidaskClub cut Novavax from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, B. Riley set a $2.25 price objective on Novavax and gave the stock a “buy” rating in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.68.

Shares of Novavax (NVAX) traded up $0.05 during trading on Tuesday, hitting $1.67. The stock had a trading volume of 3,075,568 shares, compared to its average volume of 20,771,789. Novavax has a one year low of $0.73 and a one year high of $2.14. The company has a market cap of $522.17, a PE ratio of -2.45 and a beta of 2.03. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of -4.28.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $8.35 million for the quarter, compared to the consensus estimate of $6.42 million. During the same quarter in the prior year, the company earned ($0.24) EPS. The company’s revenue for the quarter was up 158.5% on a year-over-year basis. analysts forecast that Novavax will post -0.62 earnings per share for the current fiscal year.

In other Novavax news, insider Stanley C. Erck purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average price of $1.13 per share, for a total transaction of $113,000.00. Following the purchase, the insider now owns 228,279 shares in the company, valued at $257,955.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. increased its position in Novavax by 74.8% during the 3rd quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 69,600 shares during the period. Schwab Charles Investment Management Inc. increased its position in Novavax by 6.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,225,018 shares of the biopharmaceutical company’s stock worth $1,397,000 after buying an additional 71,047 shares during the period. Wells Fargo & Company MN increased its position in Novavax by 30.8% during the 3rd quarter. Wells Fargo & Company MN now owns 446,831 shares of the biopharmaceutical company’s stock worth $509,000 after buying an additional 105,117 shares during the period. Canada Pension Plan Investment Board increased its position in Novavax by 19.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 567,800 shares of the biopharmaceutical company’s stock worth $647,000 after buying an additional 92,900 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Novavax by 49.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 29,800 shares during the period. Institutional investors and hedge funds own 35.69% of the company’s stock.

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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.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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