Jefferies Financial Group Lowers Novavax (NASDAQ:NVAX) Price Target to $25.00

Novavax (NASDAQ:NVAX) had its price target dropped by analysts at Jefferies Financial Group from $31.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 141.55% from the stock’s previous close.

A number of other research firms have also recently commented on NVAX. B. Riley reiterated 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. JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Up 2.0 %

Shares of NVAX stock opened at $10.35 on Wednesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -3.26 and a beta of 2.04. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The company’s 50 day moving average is $12.48 and its 200 day moving average is $11.66.

Novavax (NASDAQ:NVAX) last issued 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 company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $458.57 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Novavax’s quarterly revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that Novavax will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of hedge funds have recently bought and sold shares of NVAX. TSP Capital Management Group LLC lifted its holdings in 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 purchasing an additional 265,250 shares in the last quarter. Swiss National Bank boosted its holdings in Novavax by 17.1% in the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 30,800 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Novavax during the 1st quarter worth approximately $1,499,000. Headlands Technologies LLC raised its holdings in shares of Novavax by 1,084.0% during the first quarter. Headlands Technologies LLC now owns 55,137 shares of the biopharmaceutical company’s stock valued at $264,000 after acquiring an additional 50,480 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Novavax by 29.9% in the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 8,570 shares in the last quarter. Hedge funds and other 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.