JPMorgan Chase & Co. Issues Pessimistic Forecast for Novavax (NASDAQ:NVAX) Stock Price

Novavax (NASDAQ:NVAX) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $7.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 8.38% from the stock’s previous close.

A number of other research analysts also recently weighed in on NVAX. Bank of America reiterated an “underperform” rating and issued a $7.00 price objective (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. TD Cowen cut their price target on Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Novavax in a report on Thursday. Cantor Fitzgerald started coverage on Novavax in a research report on Friday, October 24th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Wall Street Zen cut Novavax from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.25.

Novavax Stock Performance

Novavax stock traded down $0.25 during mid-day trading on Tuesday, hitting $6.55. The company had a trading volume of 1,413,853 shares, compared to its average volume of 6,203,521. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 2.88, a P/E/G 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 company’s fifty day moving average is $8.33 and its 200-day moving average is $7.60. 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 posted 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 net margin of 39.20% and a negative return on equity of 142.33%. The firm had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $55.63 million. During the same period last year, the firm earned ($0.76) earnings per share. Novavax’s revenue for the quarter was down 16.7% compared to the same quarter last year. Novavax has set its FY 2025 guidance at EPS. Equities research analysts predict that Novavax will post -1.46 EPS for the current year.

Institutional Trading of Novavax

Large investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in Novavax in the 3rd quarter valued at $1,146,000. Scientech Research LLC acquired a new position in shares of Novavax during the 3rd quarter valued at about $96,000. Quarry LP purchased a new stake in shares of Novavax in the third quarter valued at about $33,000. Farallon Capital Management LLC increased its position in Novavax by 4,775.0% during the third quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock worth $6,763,000 after purchasing an additional 764,000 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Novavax by 0.5% during the third quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after purchasing an additional 15,685 shares during the period. 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.