Novavax, Inc. (NASDAQ:NVAX) Receives $13.00 Average Price Target from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.00.

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Novavax from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. B. Riley Financial restated a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. TD Cowen boosted 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. Finally, Weiss Ratings cut shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th.

Institutional Investors Weigh In On Novavax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Novavax in the 3rd quarter valued at $33,000. Duncker Streett & Co. Inc. increased its position in shares of Novavax by 917.3% during the 1st quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares during the last quarter. KBC Group NV raised its holdings in Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 1,229 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Novavax in the 4th quarter valued at about $33,000. Finally, Danske Bank A S acquired a new position in Novavax in the third quarter valued at about $64,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Stock Performance

Shares of Novavax stock opened at $7.46 on Wednesday. The business’s 50 day moving average price is $9.16 and its 200 day moving average price is $8.99. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -12.86 and a beta of 2.43. Novavax has a one year low of $6.20 and a one year high of $11.97.

Novavax (NASDAQ:NVAX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The company had revenue of $118.90 million during the quarter, compared to analysts’ expectations of $79.81 million. During the same period in the prior year, the business earned $2.93 EPS. The firm’s quarterly revenue was down 79.0% on a year-over-year basis. On average, analysts predict that Novavax will post -0.19 EPS for the current fiscal year.

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.