Novavax’s (NVAX) Buy Rating Reaffirmed at Jefferies Financial Group

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating reiterated by Jefferies Financial Group in a report released on Wednesday, Benzinga reports. They currently have a $31.00 price objective on the biopharmaceutical company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 106.25% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Bank of America raised their price target on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. upped their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, B. Riley reissued a “buy” rating and set a $23.00 price objective (down from $25.00) on shares of Novavax in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.33.

Novavax Trading Up 22.0 %

NVAX stock traded up $2.71 during trading on Wednesday, reaching $15.03. The stock had a trading volume of 12,129,875 shares, compared to its average volume of 10,304,630. The firm has a fifty day moving average price of $12.63 and a 200 day moving average price of $11.09. The company has a market capitalization of $2.11 billion, a P/E ratio of -4.74 and a beta of 2.04. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing the consensus estimate 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. During the same quarter last year, the business posted $0.58 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts predict that Novavax will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVAX. Amalgamated Bank lifted its stake in Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after buying an additional 1,300 shares during the period. Edgestream Partners L.P. grew 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 valued at $61,000 after acquiring an additional 2,447 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Novavax by 12.5% during the second quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock worth $306,000 after acquiring an additional 2,692 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.