Novavax, Inc. (NASDAQ:NVAX) Receives Average Rating of “Hold” from Analysts

Novavax, Inc. (NASDAQ:NVAX) has earned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.83.

Several equities analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Jefferies Financial Group lowered their target price 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, November 12th.

Hedge Funds Weigh In On Novavax

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in Novavax by 300.4% during the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock worth $1,226,000 after acquiring an additional 72,894 shares during the period. Neo Ivy Capital Management bought a new position in shares of Novavax during the 3rd quarter worth about $714,000. Geode Capital Management LLC raised its position in shares of Novavax by 9.5% during the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock valued at $44,245,000 after buying an additional 304,159 shares during the last quarter. Barclays PLC lifted its stake in shares of Novavax by 73.9% in the third quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company’s stock valued at $8,961,000 after buying an additional 301,627 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Novavax by 147.6% in the third quarter. XTX Topco Ltd now owns 63,126 shares of the biopharmaceutical company’s stock valued at $797,000 after buying an additional 37,631 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Stock Down 1.5 %

Novavax stock opened at $8.62 on Friday. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The stock has a market cap of $1.38 billion, a P/E ratio of -3.81 and a beta of 2.10. The company’s fifty day simple moving average is $10.49 and its 200-day simple moving average is $12.60.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same quarter last year, the firm earned ($1.26) EPS. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. On average, equities research analysts expect that Novavax will post -1.4 earnings per share for the current fiscal year.

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.