Cantor Fitzgerald reissued their hold rating on shares of Novavax (NASDAQ:NVAX) in a research note released on Monday morning. The firm currently has a $2.00 target price on the biopharmaceutical company’s stock.
“The NanoFlu vaccine top-line data release we previewed as a potentially important catalyst before YE17 is now expected to occur in February 2018.”,” Cantor Fitzgerald’s analyst commented.
Several other equities research analysts have also recently issued reports on NVAX. Seaport Global Securities restated a neutral rating on shares of Novavax in a report on Friday, October 6th. Citigroup upgraded shares of Novavax from a neutral rating to a buy rating and set a $2.00 target price on the stock in a report on Tuesday, October 31st. Zacks Investment Research cut shares of Novavax from a hold rating to a sell rating in a research note on Thursday, November 16th. Finally, BidaskClub cut shares of Novavax from a buy rating to a hold rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Novavax has a consensus rating of Hold and an average price target of $2.98.
Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Novavax had a negative net margin of 726.35% and a negative return on equity of 787.38%. The company had revenue of $8.35 million for the quarter, compared to analysts’ expectations of $6.42 million. During the same quarter last year, the company posted ($0.24) earnings per share. The firm’s quarterly revenue was up 158.5% on a year-over-year basis. equities analysts predict that Novavax will post -0.62 earnings per share for the current fiscal year.
In other news, insider Stanley C. Erck acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $1.13 per share, for a total transaction of $113,000.00. Following the transaction, the insider now directly owns 228,279 shares of the company’s stock, valued at $257,955.27. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in NVAX. Geode Capital Management LLC raised its position in shares of Novavax by 18.3% during the 1st quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock valued at $3,073,000 after purchasing an additional 371,295 shares during the period. Canada Pension Plan Investment Board increased its holdings in Novavax by 287.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 474,900 shares of the biopharmaceutical company’s stock valued at $546,000 after acquiring an additional 352,400 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Novavax by 39.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock valued at $1,328,000 after acquiring an additional 326,415 shares during the last quarter. Rhumbline Advisers increased its holdings in Novavax by 7.2% in the 2nd quarter. Rhumbline Advisers now owns 346,968 shares of the biopharmaceutical company’s stock valued at $399,000 after acquiring an additional 23,410 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new stake in Novavax in the 2nd quarter valued at $230,000. Hedge funds and other institutional investors own 36.78% of the company’s stock.
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Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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