Novavax (NVAX) Cut to Neutral at Citigroup

Citigroup lowered shares of Novavax (NASDAQ:NVAX) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. Citigroup currently has $1.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also recently commented on the company. Cantor Fitzgerald restated a hold rating and set a $2.00 target price on shares of Novavax in a research report on Monday, December 18th. BidaskClub cut Novavax from a buy rating to a hold rating in a research report on Saturday, December 2nd. Zacks Investment Research cut Novavax from a hold rating to a sell rating in a research report on Thursday, November 16th. Finally, Seaport Global Securities restated a neutral rating on shares of Novavax in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Novavax currently has an average rating of Hold and a consensus price target of $2.98.

Shares of Novavax (NASDAQ:NVAX) traded up $0.01 during trading on Tuesday, reaching $1.16. The company had a trading volume of 4,424,497 shares, compared to its average volume of 7,786,515. The company has a market capitalization of $360.66, a price-to-earnings ratio of -1.71 and a beta of 2.03. Novavax has a 1-year low of $0.73 and a 1-year high of $1.78. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The business had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. During the same period last year, the business posted ($0.24) earnings per share. The business’s revenue for the quarter was up 158.5% on a year-over-year basis. research analysts anticipate that Novavax will post -0.62 EPS for the current fiscal year.

In other Novavax news, insider Stanley C. Erck acquired 100,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of $1.13 per share, with a total value of $113,000.00. Following the transaction, the insider now owns 228,279 shares of the company’s stock, valued at approximately $257,955.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of NVAX. Raymond James Financial Services Advisors Inc. increased its stake in Novavax by 49.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 29,800 shares in the last quarter. Profund Advisors LLC grew its position in shares of Novavax by 0.4% during the second quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock valued at $139,000 after purchasing an additional 455 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Novavax by 18.6% during the second quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 21,639 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Novavax by 74.8% during the third quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 69,600 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in shares of Novavax during the second quarter valued at about $230,000. Institutional investors and hedge funds own 36.78% of the company’s stock.

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About Novavax

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.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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