JPMorgan Chase & Co. Cuts Novavax (NASDAQ:NVAX) Price Target to $6.00

Novavax (NASDAQ:NVAX) had its price target trimmed by JPMorgan Chase & Co. from $7.00 to $6.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Novavax in a research report on Friday, October 24th. They issued an “overweight” rating and a $18.00 target price on the stock. HC Wainwright raised their price target on shares of Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. B. Riley reiterated a “buy” rating and set a $16.00 price objective (down from $18.00) on shares of Novavax in a research note on Monday, November 10th. TD Cowen decreased their target price on Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $7.00 price target (down from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.25.

Novavax Stock Down 1.9%

Shares of NVAX opened at $6.22 on Tuesday. The firm has a market cap of $1.01 billion, a P/E ratio of 2.73, a PEG ratio of 0.12 and a beta of 2.68. Novavax has a 12 month low of $5.01 and a 12 month high of $11.55. The stock’s 50 day moving average is $8.22 and its two-hundred day moving average is $7.58. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.17). Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The business had revenue of $70.45 million for the quarter, compared to analyst estimates of $55.63 million. During the same period in the previous year, the company earned ($0.76) earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Novavax has set its FY 2025 guidance at EPS. Analysts predict that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in Novavax during the third quarter worth approximately $33,000. State of Wyoming acquired a new stake in shares of Novavax in the 2nd quarter worth $52,000. Signaturefd LLC increased its stake in shares of Novavax by 47.2% in the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 3,122 shares during the last quarter. Danske Bank A S purchased a new position in shares of Novavax during the 3rd quarter worth $64,000. Finally, Vise Technologies Inc. acquired a new position in shares of Novavax during the 2nd quarter valued at about $70,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.