Novavax (NASDAQ:NVAX) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $1.00 price objective on the biopharmaceutical company’s stock. Citigroup’s target price indicates a potential downside of 10.71% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald restated a “hold” rating and set a $2.00 target price on shares of Novavax in a research note on Monday. BidaskClub lowered Novavax from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Zacks Investment Research lowered Novavax from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Novavax in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Novavax has an average rating of “Hold” and a consensus target price of $2.98.

Shares of Novavax (NASDAQ:NVAX) opened at $1.12 on Tuesday. Novavax has a 52 week low of $0.73 and a 52 week high of $1.78. The company has a debt-to-equity ratio of -4.28, a current ratio of 3.31 and a quick ratio of 3.31.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $8.35 million during the quarter, compared to analysts’ expectations of $6.42 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The firm’s revenue was up 158.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) earnings per share. analysts anticipate that Novavax will post -0.62 earnings per share for the current fiscal year.

In other news, insider Stanley C. Erck purchased 100,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of $1.13 per share, with a total value of $113,000.00. Following the completion of the transaction, the insider now directly owns 228,279 shares in the company, valued at approximately $257,955.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. Canada Pension Plan Investment Board increased its position in Novavax by 287.7% during the second quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock worth $546,000 after buying an additional 352,400 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Novavax by 39.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock valued at $1,328,000 after purchasing an additional 326,415 shares during the period. Rhumbline Advisers increased its holdings in shares of Novavax by 7.2% in the second quarter. Rhumbline Advisers now owns 346,968 shares of the biopharmaceutical company’s stock valued at $399,000 after purchasing an additional 23,410 shares during the period. State of Wisconsin Investment Board acquired a new position in shares of Novavax in the second quarter valued at approximately $230,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Novavax by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,610 shares of the biopharmaceutical company’s stock valued at $1,600,000 after purchasing an additional 176,510 shares during the period. 36.78% of the stock is currently owned by institutional investors.

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Novavax Company Profile

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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