Zacks Investment Research lowered shares of Novavax (NASDAQ:NVAX) from a buy rating to a hold rating in a report published on Thursday.
According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
A number of other equities research analysts also recently weighed in on NVAX. BidaskClub downgraded shares of Novavax from a buy rating to a hold rating in a research note on Thursday, April 26th. ValuEngine raised shares of Novavax from a strong sell rating to a sell rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $3.51.
NVAX opened at $1.25 on Thursday. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of -3.63. The company has a market cap of $547.11 million, a P/E ratio of -1.98 and a beta of 2.32. Novavax has a fifty-two week low of $0.96 and a fifty-two week high of $2.75.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.12). The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.02 million. The company’s quarterly revenue was up 61.2% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. equities research analysts anticipate that Novavax will post -0.52 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB bought a new stake in Novavax in the first quarter valued at approximately $119,000. Suntrust Banks Inc. bought a new stake in Novavax in the first quarter valued at approximately $161,000. Regentatlantic Capital LLC bought a new stake in Novavax in the second quarter valued at approximately $107,000. SG Americas Securities LLC increased its stake in Novavax by 388.4% in the second quarter. SG Americas Securities LLC now owns 102,003 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 81,117 shares in the last quarter. Finally, Clinton Group Inc. bought a new stake in Novavax in the first quarter valued at approximately $220,000. 40.51% of the stock is owned by hedge funds and other institutional investors.
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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