Novavax (NVAX) is Reiterated by Chardan Capital Markets to Neutral, Lowers Price Target to $ 1.50

Novavax (NVAX) was Reiterated by Chardan Capital Markets to “Neutral” while Lowering the Price Target of the company shares to $ 1.50 from a previous price target of $5.75 . Chardan Capital Markets advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on Novavax. Novavax was Downgraded by Citigroup to ” Neutral” on Sep 16, 2016. Shares were Downgraded by Wedbush on Sep 16, 2016 to ” Neutral” and Lowered the Price Target to $ 2 from a previous price target of $14 .Novavax was Downgraded by Ladenburg Thalmann 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 closed down -7.05 points or -84.53% at $1.29 with 242,232,490 shares getting traded on Friday. Post opening the session at $1.17, the shares hit an intraday low of $1.16 and an intraday high of $1.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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