Novavax (NASDAQ:NVAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.
According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
A number of other research analysts have also recently weighed in on the company. BidaskClub cut Novavax from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Chardan Capital reiterated a “hold” rating on shares of Novavax in a report on Thursday, March 1st. Citigroup upgraded Novavax from a “neutral” rating to a “buy” rating in a report on Thursday, March 1st. Piper Jaffray Companies lifted their target price on Novavax to $2.50 and gave the company a “neutral” rating in a report on Thursday, March 1st. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and issued a $3.50 target price on shares of Novavax in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $3.11.
A number of institutional investors have recently modified their holdings of NVAX. Raymond James Financial Services Advisors Inc. boosted its holdings in Novavax by 49.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 29,800 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Novavax by 349.8% during the fourth quarter. Teacher Retirement System of Texas now owns 99,952 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 77,733 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Novavax by 121.1% during the fourth quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 63,155 shares in the last quarter. Voya Investment Management LLC lifted its stake 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 worth $159,000 after purchasing an additional 21,639 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Novavax during the fourth quarter worth about $172,000. Hedge funds and other institutional investors own 39.31% 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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