Novavax (NASDAQ:NVAX) PT Lowered to $25.00 at Jefferies Financial Group

Novavax (NASDAQ:NVAX) had its price target cut by Jefferies Financial Group from $31.00 to $25.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also issued reports on the stock. B. Riley restated a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Novavax has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Trading Down 1.6 %

NASDAQ:NVAX opened at $10.18 on Wednesday. The stock has a 50 day simple moving average of $12.45 and a 200 day simple moving average of $11.70. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86. The stock has a market cap of $1.43 billion, a P/E ratio of -3.21 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $458.57 million. During the same period in the prior year, the company earned $0.58 earnings per share. The business’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Novavax will post -0.97 EPS for the current year.

Institutional Trading of Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. Shah Capital Management raised its stake in Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after acquiring an additional 1,544,263 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Novavax during the 1st quarter worth approximately $5,406,000. Renaissance Technologies LLC bought a new position in Novavax in the 2nd quarter valued at approximately $14,055,000. SG Americas Securities LLC boosted its position in Novavax by 940.7% in the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after buying an additional 1,043,363 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Novavax during the second quarter worth $4,592,000. 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.