Citigroup Maintains Novavax to Buy with Price Target $12.00

Brokerage firm Citigroup Maintains its rating on Novavax(NASDAQ:NVAX). In a research note issued to the investors, the brokerage major Raises the price-target to $12.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Jul 28, 2016.

Novavax (NVAX) shares turned negative on Thursdays trading session with the shares closing down -0.1 points or -1.31% at a volume of 33,49,913. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.7865. The peak price level was also seen at $7.7865 while the days lowest was $7.51. Finally the shares closed at $7.51. The 52-week high of the shares is $15.01 while the 52-week low is $4.075. According to the latest information available, the market cap of the company is $2,034 M.

Novavax(NVAX) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $4.22M. Analysts had an estimated revenue of $10.39M. Earnings per share were $-0.29. Analysts had estimated an EPS of $-0.27.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Gary C Evans (director) sold 18,998 shares at $6.50 per share price.Also, On Feb 1, 2016, John Trizzino (SVP, Commercial Operations) purchased 5,855 shares at $3.63 per share price.On Feb 1, 2016, John A Iii Herrmann (SVP, General Counsel) purchased 2,072 shares at $4.38 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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