Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Average Target Price from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.83.

A number of research firms have recently issued reports on NVAX. Jefferies Financial Group lowered their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Finally, B. Riley restated a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVAX. Susquehanna Fundamental Investments LLC acquired a new position in shares of Novavax during the 1st quarter worth approximately $1,499,000. Shah Capital Management increased its holdings in shares of Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Novavax by 110.3% in the third quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock valued at $6,296,000 after purchasing an additional 261,464 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Novavax during the 2nd quarter worth about $1,251,000. Finally, Edgestream Partners L.P. boosted its holdings in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 2,447 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Trading Down 5.1 %

NVAX stock opened at $8.96 on Monday. The stock has a 50-day moving average price of $11.79 and a two-hundred day moving average price of $12.25. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The stock has a market cap of $1.43 billion, a PE ratio of -3.25 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The company had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, analysts forecast that Novavax will post -0.9 earnings per share for the current fiscal year.

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.