Novavax (NASDAQ:NVAX) was downgraded by research analysts at BidaskClub from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday, BidAskClub reports.
Several other research analysts have also issued reports on NVAX. B. Riley cut their price target on Novavax from $223.00 to $257.00 in a report on Thursday, October 22nd. Zacks Investment Research lowered Novavax from a "buy" rating to a "hold" rating and set a $145.00 price target on the stock. in a report on Tuesday, August 25th. HC Wainwright increased their price target on Novavax from $101.00 to $132.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. LADENBURG THALM/SH SH lowered Novavax from a "neutral" rating to a "sell" rating and set a $105.00 target price on the stock. in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald raised their target price on Novavax from $88.00 to $148.00 in a report on Tuesday, July 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus price target of $157.21.
NASDAQ NVAX opened at $89.59 on Wednesday. The business has a 50 day simple moving average of $104.62 and a 200 day simple moving average of $85.54. Novavax has a one year low of $3.54 and a one year high of $189.40. The stock has a market capitalization of $5.49 billion, a P/E ratio of -32.58 and a beta of 1.40. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.98 and a quick ratio of 2.98.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.30. The firm had revenue of $35.50 million during the quarter, compared to the consensus estimate of $5.67 million. The firm's revenue was up 944.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.69) EPS. Equities analysts expect that Novavax will post 9.85 earnings per share for the current year.
In related news, insider Gregory M. Glenn sold 55,921 shares of Novavax stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $145.20, for a total transaction of $8,119,729.20. Following the sale, the insider now directly owns 5,039 shares in the company, valued at $731,662.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Trizzino sold 42,788 shares of Novavax stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $148.78, for a total value of $6,365,998.64. Following the sale, the chief financial officer now owns 16,336 shares in the company, valued at $2,430,470.08. The disclosure for this sale can be found here. Insiders have sold 225,136 shares of company stock worth $30,224,412 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Bedel Financial Consulting Inc. purchased a new stake in Novavax in the third quarter worth $27,000. Global Retirement Partners LLC purchased a new stake in Novavax in the second quarter worth $25,000. Flagship Harbor Advisors LLC increased its position in Novavax by 36.8% in the second quarter. Flagship Harbor Advisors LLC now owns 390 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 105 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Novavax by 315.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 395 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 300 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in Novavax by 163.3% in the third quarter. Harbor Investment Advisory LLC now owns 395 shares of the biopharmaceutical company's stock worth $43,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds own 51.86% of the company's stock.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate that in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase III clinical trial for treating seasonal influenza in older adults.
Read More: Example of operating income, EBIT and EBITDA
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