Weiss Ratings Reiterates Sell (D+) Rating for Novavax (NASDAQ:NVAX)

Key Points

• Weiss Ratings has reaffirmed a sell (D+) rating for Novavax (NASDAQ:NVAX) in a report released on Saturday.
• Novavax's stock saw a price increase target by HC Wainwright from $10.00 to $11.00, while Bank of America reduced its target from $9.00 to $7.00.
• Despite a 39.20% net margin in its latest quarterly earnings report, Novavax's revenue declined by 42.4% year-over-year, highlighting ongoing financial challenges.

Novavax (NASDAQ:NVAX - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other analysts also recently commented on the stock. HC Wainwright raised their price objective on shares of Novavax from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America reissued an "underperform" rating and issued a $7.00 price target (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Finally, Cantor Fitzgerald started coverage on shares of Novavax in a research report on Friday. They issued an "overweight" rating and a $18.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.33.

Novavax Stock Performance

Shares of NVAX stock opened at $8.52 on Friday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 3.74, a price-to-earnings-growth ratio of 0.12 and a beta of 2.74. Novavax has a 52 week low of $5.01 and a 52 week high of $11.55. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The firm has a 50 day moving average of $8.40 and a 200-day moving average of $7.44.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.69. The company had revenue of $239.24 million during the quarter, compared to the consensus estimate of $149.19 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The company's quarterly revenue was down 42.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities analysts forecast that Novavax will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

A number of hedge funds have recently bought and sold shares of NVAX. Oppenheimer & Co. Inc. boosted its holdings in Novavax by 16.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 50,738 shares of the biopharmaceutical company's stock worth $325,000 after acquiring an additional 7,165 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Novavax by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 454,432 shares of the biopharmaceutical company's stock worth $2,913,000 after acquiring an additional 17,981 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Novavax during the 1st quarter worth $290,000. Hussman Strategic Advisors Inc. boosted its holdings in Novavax by 100.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biopharmaceutical company's stock worth $1,077,000 after acquiring an additional 84,000 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Novavax during the 1st quarter worth $99,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.

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