Novavax (NASDAQ:NVAX) Lowered to “Strong Sell” at ValuEngine

ValuEngine cut shares of Novavax (NASDAQ:NVAX) from a sell rating to a strong sell rating in a report released on Tuesday, ValuEngine reports.

NVAX has been the topic of a number of other reports. Cantor Fitzgerald raised Novavax from a neutral rating to an overweight rating and lifted their price objective for the stock from $6.00 to $16.00 in a research note on Tuesday, March 17th. LADENBURG THALM/SH SH lifted their price target on Novavax from $16.00 to $24.00 and gave the company a buy rating in a research note on Tuesday. Oppenheimer lifted their target price on shares of Novavax from to in a research report on Tuesday. HC Wainwright reaffirmed a buy rating on shares of Novavax in a research report on Thursday, February 27th. Finally, Zacks Investment Research raised shares of Novavax from a hold rating to a buy rating and set a $7.75 price objective on the stock in a report on Wednesday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $16.84.

Shares of NASDAQ NVAX traded down $1.02 during midday trading on Tuesday, reaching $11.75. The company’s stock had a trading volume of 6,961,041 shares, compared to its average volume of 8,545,196. The stock has a 50 day simple moving average of $9.60 and a 200-day simple moving average of $6.13. Novavax has a fifty-two week low of $3.54 and a fifty-two week high of $17.71. The stock has a market capitalization of $554.44 million, a price-to-earnings ratio of -2.04 and a beta of 0.41.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, March 11th. The biopharmaceutical company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.07). The company had revenue of $8.82 million for the quarter, compared to analyst estimates of $3.99 million. On average, research analysts predict that Novavax will post -2.66 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. Tower Research Capital LLC TRC boosted its stake in shares of Novavax by 473.7% in the third quarter. Tower Research Capital LLC TRC now owns 7,166 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 5,917 shares during the period. Victory Capital Management Inc. grew its stake in Novavax by 36.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,406 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 1,433 shares in the last quarter. Raymond James & Associates bought a new stake in Novavax in the 4th quarter valued at $47,000. American International Group Inc. increased its holdings in Novavax by 10.2% in the 4th quarter. American International Group Inc. now owns 16,638 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Ikarian Capital LLC bought a new stake in Novavax in the 4th quarter valued at $100,000. Institutional investors and hedge funds own 20.68% 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 recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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