Wedbush Downgrades Novavax (NVAX) to Neutral

September 16, 2016 6:48 AM EDT
Get Alerts NVAX Hot Sheet
Price: $1.43 -1.38%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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"

For an analyst ratings summary and ratings history on Novavax click here. For more ratings news on Novavax click here.

Shares of Novavax closed at $8.34 yesterday.

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