Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Average PT from Brokerages

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

A number of research firms have issued reports on NVAX. Jefferies Financial Group decreased their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. B. Riley restated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, November 12th.

Novavax Price Performance

NASDAQ:NVAX opened at $8.72 on Friday. Novavax has a one year low of $3.53 and a one year high of $23.86. The company has a market cap of $1.40 billion, a PE ratio of -3.86 and a beta of 2.10. The firm has a 50-day moving average of $10.40 and a 200-day moving average of $12.56.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. The company’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.26) EPS. On average, equities research analysts expect that Novavax will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Swedbank AB purchased a new position in Novavax during the first quarter valued at $26,000. Banque Cantonale Vaudoise grew its position 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 buying an additional 2,500 shares in the last quarter. Amalgamated Bank increased its position in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the period. Signaturefd LLC increased its holdings in Novavax by 214.5% during the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 3,874 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 1,598 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.