Novavax (NASDAQ:NVAX) Upgraded at TD Cowen

TD Cowen upgraded shares of Novavax (NASDAQ:NVAX) to a hold rating in a research note published on Thursday,Zacks.com reports.

Several other analysts have also issued reports on NVAX. BTIG Research started coverage on Novavax in a research note on Friday. They issued a “buy” rating and a $19.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Novavax has a consensus rating of “Hold” and an average price target of $18.00.

Novavax Stock Performance

NVAX opened at $8.33 on Thursday. Novavax has a 52-week low of $3.81 and a 52-week high of $23.86. The firm has a market capitalization of $1.33 billion, a PE ratio of -3.69, a PEG ratio of 2.85 and a beta of 2.14. The business’s 50-day simple moving average is $8.51 and its 200 day simple moving average is $9.98.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to the consensus estimate of $85.48 million. During the same quarter in the previous year, the company posted ($1.44) EPS. On average, research analysts forecast that Novavax will post -1.46 earnings per share for the current year.

Insider Transactions at Novavax

In other news, Director James F. Young sold 5,400 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total transaction of $43,200.00. Following the transaction, the director now owns 51,760 shares in the company, valued at approximately $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rachel K. King sold 4,150 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 14,770 shares in the company, valued at $133,225.40. This represents a 21.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,150 shares of company stock worth $119,641. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Novavax

A number of large investors have recently added to or reduced their stakes in NVAX. GF Fund Management CO. LTD. acquired a new stake in Novavax during the fourth quarter worth approximately $27,000. Spire Wealth Management acquired a new stake in Novavax during the fourth quarter worth approximately $29,000. New Age Alpha Advisors LLC acquired a new stake in Novavax during the fourth quarter worth approximately $35,000. KBC Group NV grew its position in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 3,917 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,598 shares in the last quarter. Institutional investors and hedge funds 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.