Novavax (NVAX) is Downgraded by Wedbush to Neutral, Lowers Price Target to $ 2

Novavax (NVAX) was Downgraded by Wedbush to ” Neutral” while Lowering the Price Target of the company shares to $ 2 from a previous price target of $14 . Earlier the firm had a rating of “Outperform ” on the company shares. Wedbush advised their investors in a research report released on Sep 16, 2016.

Many Wall Street Analysts have commented on Novavax. Novavax was Downgraded by Citigroup to ” Neutral” on Sep 16, 2016.

On the company’s financial health, Novavax reported $-0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.25. The company had revenue of $2.50 million for the quarter, compared to analysts expectations of $8.10 million. The company’s revenue was down -82.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Novavax opened for trading at $8.1 and hit $8.4162 on the upside on Wednesday, eventually ending the session at $8.31, with a gain of 4.40% or 0.35 points. The heightened volatility saw the trading volume jump to 5,986,838 shares. Company has a market cap of $2,254 M.

In a different news, on Aug 2, 2016, Barclay A Phillips (CFO) purchased 422 shares at $4.29 per share price. According to the SEC, on Jun 7, 2016, Gary C Evans (director) sold 18,998 shares at $6.50 per share price. On Feb 1, 2016, John Trizzino (SVP, Commercial Operations) purchased 5,855 shares at $3.63 per share price, according to the Form-4 filing with the securities and exchange commission.

Novavax Inc. (Novavax) is a clinical-stage vaccine company engaged in the discovery development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases. The Company’s product pipeline focuses on a variety of infectious diseases with vaccine candidates in clinical development for respiratory syncytial virus (RSV) seasonal influenza pandemic influenza and the Ebola virus (EBOV). The Company’s lead adjuvant for human applications Matrix-M is in a Phase I/II clinical trial for pandemic influenza H7N9 vaccine candidate. The Company is also testing Matrix-M in conjunction with its EBOV vaccine candidate in a Phase I clinical trial. The Company is developing additional pre-clinical stage programs in a variety of infectious diseases including Middle East respiratory syndrome (MERS).


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