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Why Novavax Stock Sank Again on Tuesday

TheMotleyFool

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It's only Tuesday, but Novavax (NASDAQ: NVAX) is already having an ugly week. After its stock sank on Monday despite a not-bad first-quarter earnings report, on Tuesday, it was hit by an analyst's price target cut and the shares plummeted again, closing the session almost 14% lower.

In his new research note, Jefferies (NYSE: JEF) prognosticator Kelechi Chikere sliced his price target on Novavax stock from $310 to $235. Since the new target figure is still 70% above the most recent closing share price, Chikere is maintaining his buy recommendation.

Image source: Getty Images.

Source Fool.com

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