Wedbush Downgrades Novavax (NVAX) to Neutral
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush downgraded Novavax (NASDAQ: NVAX) from Outperform to Neutral with a price target of $2.00 (from $14.00) after the company posted surprising results last night with its RSV vaccine failing a pivotal study in the elderly
Analsyt Heather Behanna commented, "RSV rates were significantly lower than expected; we believe the fluctuations in the elderly are less understood than we had anticipated. Although we believe the RSV vaccine is viable, we have removed the elderly opportunity from our valuation at this time, pending a path forward; we step to the sidelines and downgrade shares to NEUTRAL"
Shares of Novavax closed at $8.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Jefferies Cuts Price Target on VCA Antech (WOOF) Following 3Q Miss
- Jefferies Cuts Price Target on Essendant (ESND) to $18 Following EPS Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!