Novavax (NASDAQ:NVAX) Given Buy Rating at B. Riley

B. Riley reiterated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research note issued to investors on Thursday, Benzinga reports. B. Riley currently has a $26.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $23.00.

Other research analysts have also recently issued research reports about the company. Bank of America lifted their price objective on Novavax from $12.00 to $18.00 and gave the company a neutral rating in a research note on Friday, June 14th. Jefferies Financial Group reiterated 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 price objective on Novavax from $8.00 to $9.00 and gave the company an underweight rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Novavax presently has an average rating of Hold and a consensus price target of $18.83.

Novavax Trading Down 3.0 %

Shares of NVAX traded down $0.39 on Thursday, reaching $12.51. The stock had a trading volume of 1,172,772 shares, compared to its average volume of 10,140,200. The company has a 50-day simple moving average of $12.45 and a 200-day simple moving average of $11.42. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86.

Novavax (NASDAQ:NVAX) last announced 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 business had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. Equities research analysts predict that Novavax will post -0.97 earnings per share for the current fiscal year.

Institutional Trading of Novavax

A number of institutional investors and hedge funds have recently modified their holdings of NVAX. Swedbank AB bought a new stake in shares of Novavax in the 1st quarter worth $26,000. Banque Cantonale Vaudoise grew its holdings 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 period. Herr Investment Group LLC bought a new stake in shares of Novavax in the first quarter worth $48,000. Alpine Global Management LLC bought a new stake in shares of Novavax in the first quarter worth $49,000. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,711 shares during the period. 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.