Novavax Stock Slides As JPMorgan Cuts Price Target, Lowers Rating

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Novavax Inc.  (NVAX)  stocks moved sharply decrease Thursday after analysts at JPMorgan diminished their ranking and worth goal at the drugmaker following its determination to slash near-term gross sales forecasts.   

JPMorgan analyst Eric Joseph lower his ranking at the inventory to ‘underweight’, from ‘impartial’, whilst slashing his worth goal via greater than $100, to $27 in keeping with percentage.

Last month, Novavax pruned its full-year revenue forecast and warned that it does not be expecting to promote to any extent further of its Covid vaccines within the United States this yr following a wider-than-expected 3rd quarter lack of $6.53 in keeping with percentage. 

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