Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Consensus PT from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.83.

Several research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Jefferies Financial Group dropped their price target on 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 reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Tuesday, December 10th.

Hedge Funds Weigh In On Novavax

Several hedge funds have recently made changes to their positions in NVAX. Charles Schwab Investment Management Inc. lifted its holdings in Novavax by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after purchasing an additional 187,548 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares during the period. Shah Capital Management raised its position in shares of Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after buying an additional 1,544,263 shares in the last quarter. State Street Corp boosted its holdings in shares of Novavax by 26.7% in the 3rd 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 in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Novavax by 110.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock worth $6,296,000 after buying an additional 261,464 shares in the last quarter. 53.04% of the stock is owned by institutional investors.

Novavax Stock Performance

Novavax stock opened at $8.47 on Tuesday. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86. The stock has a fifty day moving average of $8.94 and a two-hundred day moving average of $11.66. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.75 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. During the same period last year, the firm posted ($1.26) EPS. Novavax’s revenue was down 54.8% on a year-over-year basis. On average, analysts forecast that Novavax will post -1.44 EPS for the current fiscal year.

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.