Ladenburg Thalmann & Co. Sticks to Its Buy Rating for Novavax (NVAX)

By Austin Angelo

In a report released today, Michael Higgins from Ladenburg Thalmann & Co. maintained a Buy rating on Novavax (NVAXResearch Report), with a price target of $27.50. The company’s shares closed last Monday at $4.50, close to its 52-week low of $4.01.

According to, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.4% and a 27.1% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Armata Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Novavax with a $23.13 average price target.

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Based on Novavax’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $39.6 million. In comparison, last year the company had a GAAP net loss of $44.57 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVAX in relation to earlier this year.

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Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology.