Novavax, Inc. (NASDAQ:NVAX) Receives $18.33 Average Price Target from Analysts

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.83.

Several equities research analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $31.00 price objective on shares of Novavax in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th.

Novavax Stock Performance

Shares of NVAX opened at $12.53 on Thursday. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The company’s 50 day simple moving average is $12.47 and its 200 day simple moving average is $11.52. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.95 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share 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. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities analysts expect that Novavax will post -0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise boosted its stake in shares of Novavax by 500.0% during the 2nd 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 in the last quarter. Amalgamated Bank raised its stake in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,036 shares during the last quarter. Swedbank AB bought a new position in shares of Novavax during the first quarter worth $26,000. Signaturefd LLC raised its stake in shares of Novavax by 214.5% in the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the period. Finally, Herr Investment Group LLC bought a new stake in Novavax during the first quarter worth about $48,000. Institutional investors and hedge funds 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.