Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Average Target Price from Analysts

Novavax, Inc. (NASDAQ:NVAX) has received a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.83.

Several analysts have issued reports on NVAX shares. Jefferies Financial Group dropped their price target 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. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. Finally, B. Riley restated a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th.

Novavax Trading Down 2.2 %

NVAX opened at $8.28 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of -3.66 and a beta of 2.02. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The firm’s fifty day simple moving average is $8.86 and its 200 day simple moving average is $11.55.

Novavax (NASDAQ:NVAX) last announced 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 business had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.26) EPS. On average, equities research analysts predict that Novavax will post -1.44 EPS for the current fiscal year.

Institutional Trading of Novavax

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in Novavax by 3.0% in the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 1,300 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. Victory Capital Management Inc. increased its position in shares of Novavax by 12.0% during the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 2,072 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the period. Institutional investors 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.