Novavax (NVAX) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Novavax (NASDAQ:NVAX) from a hold rating to a sell rating in a research note published on Friday morning.

A number of other research analysts have also issued reports on NVAX. Zacks Investment Research lowered Novavax from a hold rating to a sell rating in a research report on Wednesday, July 25th. JPMorgan Chase & Co. upgraded Novavax from an underweight rating to an overweight rating and boosted their price target for the stock from $2.00 to $2.25 in a research report on Friday, September 21st. Cantor Fitzgerald set a $2.00 price target on Novavax and gave the stock a hold rating in a research report on Wednesday, September 26th. Finally, B. Riley set a $10.00 price target on Novavax and gave the stock a buy rating in a research report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Novavax has an average rating of Hold and an average target price of $3.37.

NASDAQ:NVAX traded down $0.05 during midday trading on Friday, reaching $1.78. 5,112,015 shares of the company traded hands, compared to its average volume of 6,643,386. Novavax has a twelve month low of $0.99 and a twelve month high of $2.75.



Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.02 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was up 61.2% compared to the same quarter last year. Equities analysts expect that Novavax will post -0.5 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Novavax by 338.9% during the 1st quarter. Millennium Management LLC now owns 5,319,314 shares of the biopharmaceutical company’s stock worth $11,171,000 after acquiring an additional 4,107,352 shares during the period. Northern Trust Corp boosted its position in Novavax by 22.0% during the 2nd quarter. Northern Trust Corp now owns 4,429,972 shares of the biopharmaceutical company’s stock worth $5,935,000 after acquiring an additional 797,965 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Novavax by 40.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,146,438 shares of the biopharmaceutical company’s stock worth $2,877,000 after buying an additional 622,908 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Novavax by 13.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,720,847 shares of the biopharmaceutical company’s stock worth $2,306,000 after buying an additional 201,244 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Novavax by 513.2% in the 1st quarter. UBS Group AG now owns 1,611,084 shares of the biopharmaceutical company’s stock worth $3,383,000 after buying an additional 1,348,341 shares in the last quarter. Institutional investors own 42.46% of the company’s stock.

Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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