Novavax, Inc. (NASDAQ:NVAX) Receives Average Rating of “Hold” from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $17.83.

NVAX has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, November 12th. Jefferies Financial Group lowered their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, B. Riley reaffirmed a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its position in Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,036 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Novavax by 3.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 1,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the last quarter. Victory Capital Management Inc. grew its position in Novavax by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its position in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Stock Performance

NVAX opened at $8.41 on Friday. The company has a 50-day moving average of $10.23 and a 200-day moving average of $12.49. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.72 and a beta of 2.02. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. Novavax’s revenue for the quarter was down 54.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.26) EPS. As a group, sell-side analysts expect that Novavax will post -1.4 earnings per share for the current fiscal year.

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.