PHAT - Novavax downgraded at JP Morgan on vaccine timeline Amarin cut to sell at Goldman Sachs; in today's analyst action

Novavax cut to neutral at JP Morgan; manufacturing issues citedNovavax (NVAX) topped Street estimates with its Q1 2021 financials, but a delayed timeline outlined for its COVID-19 vaccine candidate hurt the stock yesterday leading to a ~14.4% slump.Today, J.P. Morgan has downgraded Novavax to neutral from overweight. The price target of $161.00 per share indicates a premium of ~16.5% to the last close. Novavax has lost ~2.9% in before hours.Among the negative updates included in Q1 2021 financials, “the most troubling to us is the clear challenge the company faces in manufacturing its vaccine candidate in large scale,” the analyst Eric Joseph wrote.With a full production capacity of 150M doses per month now expected in Q4 2021 from the previous target of Q3 2021, the setback to Novavax could slow down the vaccination drive in poorer countries for which the company has pledged 1.1B vaccine doses through the COVAX initiative.Amarin cut to sell at Goldman

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Novavax downgraded at JP Morgan on vaccine timeline, Amarin cut to sell at Goldman Sachs; in today’s analyst action