Novavax (NASDAQ:NVAX) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Novavax (NASDAQ:NVAXGet Rating) from a neutral rating to an underweight rating in a research note issued to investors on Thursday, The Fly reports. They currently have $27.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $132.00.

NVAX has been the topic of several other research reports. Cowen cut their price objective on shares of Novavax from $150.00 to $110.00 and set an outperform rating on the stock in a report on Tuesday, August 9th. Cantor Fitzgerald increased their price target on shares of Novavax from $146.00 to $168.00 in a report on Wednesday, June 8th. Cowen cut their price target on shares of Novavax to $110.00 in a report on Monday, August 15th. Finally, B. Riley cut their price target on shares of Novavax from $181.00 to $171.00 in a report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $128.25.

Novavax Stock Down 13.3 %

NVAX opened at $22.44 on Thursday. Novavax has a 52-week low of $21.81 and a 52-week high of $260.69. The company has a market cap of $1.75 billion, a P/E ratio of -1.15, a price-to-earnings-growth ratio of 0.13 and a beta of 1.65. The firm’s 50-day moving average price is $41.89 and its 200-day moving average price is $52.60.

Novavax (NASDAQ:NVAXGet Rating) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($6.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($12.04). Novavax had a negative net margin of 114.32% and a negative return on equity of 572.54%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company earned ($4.75) EPS. The business’s revenue was down 37.6% compared to the same quarter last year. On average, research analysts anticipate that Novavax will post 6.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in Novavax by 62.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 386 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 149 shares during the period. US Bancorp DE grew its stake in Novavax by 9.0% in the 2nd quarter. US Bancorp DE now owns 2,270 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. San Luis Wealth Advisors LLC acquired a new stake in Novavax in the 1st quarter valued at $29,000. Cetera Advisors LLC grew its stake in Novavax by 3.4% in the 1st quarter. Cetera Advisors LLC now owns 7,632 shares of the biopharmaceutical company’s stock valued at $562,000 after acquiring an additional 254 shares during the period. Finally, DNB Asset Management AS grew its stake in Novavax by 2.5% in the 1st quarter. DNB Asset Management AS now owns 10,383 shares of the biopharmaceutical company’s stock valued at $765,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 42.63% of the company’s stock.

About Novavax

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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