Novavax (NASDAQ:NVAX) Rating Reiterated by B. Riley

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a research note issued to investors on Thursday, Benzinga reports. They presently have a $26.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $23.00. B. Riley’s target price indicates a potential upside of 107.50% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $31.00 price target on shares of Novavax in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Finally, Bank of America lifted their price target on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Novavax has a consensus rating of “Hold” and a consensus price target of $18.83.

Novavax Trading Down 2.9 %

Shares of NVAX opened at $12.53 on Thursday. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86. The firm’s fifty day simple moving average is $12.45 and its 200-day simple moving average is $11.42. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -3.95 and a beta of 2.04.

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 analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. During the same quarter last year, the firm earned $0.58 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. On average, analysts predict that Novavax will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVAX. Swedbank AB purchased a new position in Novavax during the 1st quarter worth $26,000. Banque Cantonale Vaudoise increased its stake in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the period. Herr Investment Group LLC acquired a new position in shares of Novavax during the first quarter worth about $48,000. Alpine Global Management LLC acquired a new position in shares of Novavax during the first quarter worth about $49,000. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Novavax by 31.6% during 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 during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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.