Novavax, Inc. (NASDAQ:NVAX) Receives $13.00 Consensus PT from Analysts

Novavax, Inc. (NASDAQ:NVAX) has received an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.00.

Several research analysts recently weighed in on the company. BTIG Research reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Thursday, June 11th. Zacks Research lowered Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Novavax in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Cowen lifted their target price on shares of Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th.

Novavax Stock Performance

Shares of NVAX opened at $8.94 on Friday. The business’s 50-day moving average is $8.48 and its two-hundred day moving average is $8.91. The company has a market capitalization of $1.47 billion, a P/E ratio of -5.88 and a beta of 2.46. Novavax has a fifty-two week low of $6.20 and a fifty-two week high of $11.97.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The business had revenue of $56.70 million during the quarter, compared to analyst estimates of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company’s revenue was down 76.2% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. Analysts forecast that Novavax will post -0.43 EPS for the current year.

Institutional Trading of Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. KBC Group NV raised its position in shares of Novavax by 34.9% in the first quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 1,229 shares during the period. Legal & General Group Plc grew its position in shares of Novavax by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock valued at $1,350,000 after acquiring an additional 1,529 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Novavax by 25.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,617 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Novavax by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 1,718 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Novavax by 6.4% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 34,663 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.