Novavax Stock Slides As JPMorgan Slashes Price Target, Lowers Rating

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By Martin Baccardax JPMorgan analyst Eric Joseph slashed his price target on Novavax by more than $100, to $27 per share. Novavax Inc. (NVAX) – Get Novavax Inc. Report 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. Last month, Novavax pruned its full-year revenue forecast and warned that it doesn’t expect to …

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