Novavax, Inc. (NASDAQ:NVAX) Given Average Recommendation of “Hold” by Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have received an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $18.33.

A number of brokerages recently weighed in on NVAX. Bank of America lifted their target price 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. B. Riley reissued a “buy” rating and issued a $23.00 price objective (down from $25.00) on shares of Novavax in a research report on Monday, August 12th. Jefferies Financial Group reissued a “buy” rating and issued a $31.00 price objective on shares of Novavax in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th.

Novavax Stock Performance

NVAX stock opened at $12.68 on Thursday. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The company has a market capitalization of $1.78 billion, a P/E ratio of -4.00 and a beta of 2.04. The company has a fifty day moving average price of $12.45 and a 200-day moving average price of $11.41.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts forecast that Novavax will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Novavax

Several large investors have recently made changes to their positions in NVAX. Swedbank AB acquired a new position in Novavax during the 1st quarter worth approximately $26,000. Banque Cantonale Vaudoise raised its position 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 purchasing 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 approximately $48,000. Alpine Global Management LLC acquired a new stake in Novavax in the 1st quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. grew its position in Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 2,711 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.