Novavax Inventory Slides As JPMorgan Cuts Worth Goal, Lowers Ranking

Novavax Inc.  (NVAX)  shares moved sharply decrease Thursday after analysts at JPMorgan lowered their ranking and value goal on the drugmaker following its choice to slash near-term gross sales forecasts.   

JPMorgan analyst Eric Joseph minimize his ranking on the inventory to ‘underweight’, from ‘impartial’, whereas slashing his value goal by greater than $100, to $27 per share.

Final month, Novavax pruned its full-year revenue forecast and warned that it would not anticipate to promote any extra of its Covid vaccines in the USA this yr following a wider-than-expected third quarter lack of $6.53 per share. 

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