Novavax, Inc. (NVAX) Earns Hold Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their hold rating on shares of Novavax, Inc. (NASDAQ:NVAX) in a report issued on Wednesday, November 8th. They currently have a $2.00 price objective on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. BidaskClub raised Novavax from a sell rating to a hold rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Novavax from a hold rating to a buy rating and set a $1.25 target price for the company in a report on Wednesday, August 16th. Seaport Global Securities restated a neutral rating on shares of Novavax in a report on Friday, October 6th. Piper Jaffray Companies restated a hold rating and issued a $1.50 target price on shares of Novavax in a report on Wednesday, July 26th. Finally, Citigroup Inc. upgraded Novavax from a neutral rating to a buy rating and set a $2.00 target price for the company in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Novavax presently has a consensus rating of Hold and a consensus price target of $3.12.

Shares of Novavax (NVAX) traded down $0.13 during midday trading on Wednesday, reaching $1.41. The company had a trading volume of 10,156,636 shares, compared to its average volume of 5,983,183. Novavax has a 52-week low of $0.73 and a 52-week high of $1.78. The company has a debt-to-equity ratio of -4.28, a quick ratio of 3.31 and a current ratio of 3.31.

Novavax (NASDAQ:NVAX) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The business had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. During the same period in the prior year, the company posted ($0.24) EPS. The business’s quarterly revenue was up 158.5% on a year-over-year basis. sell-side analysts predict that Novavax will post -0.62 earnings per share for the current fiscal year.

In other news, insider Stanley C. Erck bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $1.13 per share, with a total value of $113,000.00. Following the purchase, the insider now owns 228,279 shares in the company, valued at $257,955.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James F. Young sold 175,000 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its position in Novavax by 49.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 29,800 shares in the last quarter. Profund Advisors LLC raised its position in shares of Novavax by 0.4% during the 2nd quarter. Profund Advisors LLC now owns 120,775 shares of the biopharmaceutical company’s stock worth $139,000 after acquiring an additional 455 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Novavax by 18.6% during the 2nd quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 21,639 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Novavax by 3.8% during the 1st quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after acquiring an additional 5,250 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Novavax by 74.8% during the 3rd quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 69,600 shares in the last quarter. 37.67% of the stock is currently owned by institutional investors.

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Novavax Company Profile

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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