ບໍລິສັດ Novavax Inc. (NVAX) shares moved sharply lower Thursday after analysts at JPMorgan lowered their rating and price target on the drugmaker following its decision to slash near-term sales forecasts.
JPMorgan analyst Eric Joseph cut his rating on the stock to ‘underweight’, from ‘neutral’, while slashing his price target by more than $100, to $27 per share, citing weak near-term Covid vaccine demand.
Last month, Novavax pruned its full-year ລາຍໄດ້ forecast and warned that it doesn’t expect to sell any more of its Covid vaccines in the United States this year following a wider-than-expected third quarter loss of $6.53 per share.
