Analysts Set Novavax, Inc. (NASDAQ:NVAX) Target Price at $19.00

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.00.

Several analysts have commented on NVAX shares. B. Riley lifted their target price on shares of Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Monday, May 13th. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research note on Friday, May 10th. TD Cowen upped their price objective on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Bank of America increased their price objective on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, June 14th.

Novavax Trading Down 3.2 %

NASDAQ:NVAX opened at $12.55 on Tuesday. The company has a market capitalization of $1.76 billion, a P/E ratio of -3.96 and a beta of 1.98. The firm has a 50-day moving average price of $12.67 and a two-hundred day moving average price of $7.40. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to analyst estimates of $71.32 million. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($3.41) EPS. On average, equities research analysts predict that Novavax will post 0.49 earnings per share for the current year.

Insider Buying and Selling at Novavax

In related news, Director James F. Young sold 7,500 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the sale, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Young sold 7,500 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,312 shares of company stock valued at $866,212. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently bought and sold shares of NVAX. Vanguard Group Inc. lifted its stake in shares of Novavax by 9.3% in the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after acquiring an additional 978,873 shares in the last quarter. Shah Capital Management raised its position in shares of Novavax by 4.3% in the 1st quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock valued at $38,803,000 after purchasing an additional 337,071 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock valued at $7,737,000 after buying an additional 619,370 shares during the last quarter. Coatue Management LLC acquired a new stake in shares of Novavax during the fourth quarter worth approximately $7,294,000. Finally, TSP Capital Management Group LLC increased its stake in shares of Novavax by 23.9% in the first quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after buying an additional 265,250 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.