Novavax’s (NVAX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Novavax (NASDAQ:NVAX) in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a $19.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on NVAX. B. Riley reiterated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Jefferies Financial Group decreased their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $8.77 on Tuesday. The company has a 50-day simple moving average of $9.85 and a 200-day simple moving average of $12.26. The company has a market cap of $1.40 billion, a PE ratio of -3.88 and a beta of 2.02. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the previous year, the firm posted ($1.26) earnings per share. The firm’s revenue was down 54.8% on a year-over-year basis. On average, analysts anticipate that Novavax will post -1.44 EPS for the current year.

Institutional Trading of Novavax

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 shares during the period. Shah Capital Management boosted its position in Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the period. Renaissance Technologies LLC acquired a new stake in Novavax in the 2nd quarter valued at $14,055,000. SG Americas Securities LLC raised 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 purchasing an additional 1,043,363 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Novavax by 48.9% during the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after purchasing an additional 656,900 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

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.