Novavax Inc. (NVAX) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Novavax Inc. (NASDAQ:NVAX) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $1.50 price target on the biopharmaceutical company’s stock.
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. “
Several other analysts have also recently commented on NVAX. FBR & Co cut their target price on shares of Novavax from $17.00 to $12.00 and set an outperform rating for the company in a report on Friday, September 16th. Wedbush lowered shares of Novavax from an outperform rating to a neutral rating and cut their target price for the company from $14.00 to $2.00 in a report on Friday, September 16th. Ladenburg Thalmann lowered shares of Novavax from a buy rating to a neutral rating in a report on Friday, September 16th. Piper Jaffray Cos. lowered shares of Novavax from an overweight rating to a neutral rating and cut their target price for the company from $14.00 to $1.00 in a report on Friday, September 16th. Finally, JPMorgan Chase & Co. lowered shares of Novavax from an overweight rating to a neutral rating in a report on Friday, September 16th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $6.58.
Novavax (NASDAQ:NVAX) traded down 2.21% on Tuesday, reaching $1.33. 7,494,629 shares of the company traded hands. The stock’s 50-day moving average is $1.65 and its 200-day moving average is $5.15. The stock’s market capitalization is $360.69 million. Novavax has a 1-year low of $1.16 and a 1-year high of $9.23.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.02. Novavax had a negative net margin of 1,908.41% and a negative return on equity of 189.14%. The business earned $3.20 million during the quarter, compared to analysts’ expectations of $4.02 million. During the same period in the previous year, the business posted ($0.12) EPS. The business’s quarterly revenue was down 50.8% compared to the same quarter last year. Equities research analysts expect that Novavax will post ($1.05) EPS for the current year.
In other news, SVP John Trizzino purchased 46,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were purchased at an average price of $2.17 per share, with a total value of $99,820.00. Following the transaction, the senior vice president now owns 85,564 shares in the company, valued at approximately $185,673.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Mcmanus, Jr. purchased 30,000 shares of the stock in a transaction dated Wednesday, September 21st. The shares were purchased at an average cost of $1.61 per share, for a total transaction of $48,300.00. Following the transaction, the director now owns 247,590 shares in the company, valued at approximately $398,619.90. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NVAX. Coldstream Capital Management Inc. boosted its position in shares of Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,055 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Novavax by 1.1% in the third quarter. Principal Financial Group Inc. now owns 48,096 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 536 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Novavax during the second quarter valued at $102,000. Veritable L.P. purchased a new position in shares of Novavax during the second quarter valued at $102,000. Finally, BlackRock Inc. boosted its position in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 11,547 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.
Novavax, Inc (Novavax) 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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