Novavax (NASDAQ:NVAX) Given New $25.00 Price Target at Jefferies Financial Group

Novavax (NASDAQ:NVAX) had its price objective lowered by Jefferies Financial Group from $31.00 to $25.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

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

Novavax Trading Down 1.6 %

Shares of NVAX opened at $10.18 on Wednesday. The stock’s 50-day moving average price is $12.45 and its two-hundred day moving average price is $11.70. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The company has a market capitalization of $1.43 billion, a PE ratio of -3.21 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last released 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 business had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. During the same period in the previous year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts predict that Novavax will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Shah Capital Management increased its position in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after buying an additional 1,544,263 shares in the last quarter. TSP Capital Management Group LLC increased its holdings in shares of Novavax by 23.9% during the first quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock valued at $6,582,000 after acquiring an additional 265,250 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock worth $14,579,000 after purchasing an additional 1,043,363 shares during the period. Farallon Capital Management LLC bought a new position in shares of Novavax in the 1st quarter worth $5,406,000. Finally, Renaissance Technologies LLC acquired a new stake in Novavax in the 2nd quarter valued at $14,055,000. Institutional investors own 53.04% of the company’s stock.

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.