Vaxart (NASDAQ:VXRT) Upgraded at BidaskClub

BidaskClub upgraded shares of Vaxart (NASDAQ:VXRT) from a hold rating to a buy rating in a research note released on Tuesday morning, BidAskClub reports.

Several other research firms have also recently commented on VXRT. Zacks Investment Research raised shares of Vaxart from a sell rating to a hold rating in a research report on Friday, June 26th. HC Wainwright reaffirmed a buy rating and issued a $7.00 target price on shares of Vaxart in a research report on Wednesday, May 13th. Finally, ValuEngine cut shares of Vaxart from a buy rating to a hold rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $4.75.

Shares of Vaxart stock opened at $7.37 on Tuesday. The firm has a market cap of $656.53 million, a PE ratio of -8.57 and a beta of 0.28. Vaxart has a 12-month low of $0.25 and a 12-month high of $14.30. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $3.40 and its two-hundred day simple moving average is $1.92.

Vaxart (NASDAQ:VXRT) last announced its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $2.90 million for the quarter, compared to analyst estimates of $2.80 million. Vaxart had a negative net margin of 252.86% and a negative return on equity of 94.20%. As a group, sell-side analysts expect that Vaxart will post -0.19 earnings per share for the current fiscal year.

In related news, Director Armistice Capital, Llc sold 9,385,386 shares of Vaxart stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $8.29, for a total transaction of $77,804,849.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Todd C. Davis sold 60,000 shares of Vaxart stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $3.28, for a total transaction of $196,800.00. Following the transaction, the director now directly owns 120,000 shares of the company’s stock, valued at $393,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,498,487 shares of company stock valued at $289,795,963. 7.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Wealth Management Group LLC purchased a new position in Vaxart during the 1st quarter valued at about $28,000. Bank of New York Mellon Corp bought a new stake in Vaxart during the 1st quarter valued at about $74,000. Harvest Investment Services LLC bought a new stake in Vaxart during the 1st quarter valued at about $88,000. Geode Capital Management LLC increased its stake in Vaxart by 656.7% during the 1st quarter. Geode Capital Management LLC now owns 338,442 shares of the biotechnology company’s stock valued at $599,000 after purchasing an additional 293,713 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in Vaxart during the 1st quarter valued at about $885,000. 40.98% of the stock is owned by institutional investors.

About Vaxart

Vaxart, Inc, a clinical-stage company, engages in the discovery and development of oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company's product pipeline includes tablet vaccines that are designed to protect against norovirus, seasonal influenza, and respiratory syncytial virus.

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