Novavax (NASDAQ:NVAX) PT Raised to $9.00

Novavax (NASDAQ:NVAX) had its price target increased by stock analysts at JPMorgan Chase & Co. from $8.00 to $9.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 25.99% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on NVAX. TD Cowen boosted their price objective on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Bank of America upped their price target on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. B. Riley dropped their price objective on Novavax from $29.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Novavax has a consensus rating of “Hold” and an average target price of $15.80.

Novavax Trading Up 2.6 %

NASDAQ NVAX opened at $12.16 on Monday. The firm has a market cap of $1.71 billion, a PE ratio of -3.84 and a beta of 1.99. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86. The stock has a 50-day moving average of $14.13 and a 200-day moving average of $9.11.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. During the same period in the prior year, the firm earned $0.58 EPS. The business’s revenue was down 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Novavax will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $14.09, for a total value of $105,675.00. Following the completion of the transaction, the director now owns 61,760 shares in the company, valued at approximately $870,198.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Swedbank AB purchased a new stake in Novavax in the first quarter worth about $26,000. Banque Cantonale Vaudoise increased its position in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares in the last quarter. Herr Investment Group LLC bought a new position in Novavax during the 1st quarter valued at approximately $48,000. Alpine Global Management LLC purchased a new position in Novavax during the first quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in 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 in the last quarter. 53.04% of the stock is currently owned by institutional investors.

About Novavax

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.