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

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.

NVAX has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. BTIG Research initiated coverage on Novavax in a research note on Friday, February 28th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, TD Cowen raised Novavax to a “hold” rating in a research note on Thursday, February 27th.

Insiders Place Their Bets

In other Novavax news, Director James F. Young sold 4,600 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now owns 57,160 shares of the company’s stock, valued at approximately $484,716.80. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the transaction, the director now directly owns 14,770 shares in the company, valued at $133,225.40. This trade represents a 21.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,150 shares of company stock valued at $119,641. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanofi purchased a new stake in Novavax in the fourth quarter valued at $55,319,000. Deep Track Capital LP purchased a new stake in Novavax in the fourth quarter valued at $16,080,000. State Street Corp raised its position in Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after purchasing an additional 1,621,772 shares during the period. Shah Capital Management raised its position in Novavax by 13.6% in the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock valued at $89,637,000 after purchasing an additional 1,333,305 shares during the period. Finally, Two Sigma Advisers LP raised its position in Novavax by 48.9% in the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after purchasing an additional 656,900 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Trading Up 6.0 %

Shares of NVAX opened at $8.34 on Friday. Novavax has a 12 month low of $3.81 and a 12 month high of $23.86. The stock’s 50 day moving average is $8.46 and its two-hundred day moving average is $9.79. The firm has a market cap of $1.34 billion, a P/E ratio of -3.69, a PEG ratio of 2.85 and a beta of 2.92.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period in the previous year, the business posted ($1.44) earnings per share. Equities research analysts forecast that Novavax will post -1.46 EPS for the current 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.