Brokerages Set Novavax, Inc. (NASDAQ:NVAX) Target Price at $17.83

Novavax, Inc. (NASDAQ:NVAX) has been given a consensus rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One 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 updated their coverage on the stock in the last year is $17.83.

Several research firms have weighed in on NVAX. HC Wainwright reiterated a “buy” rating and set a $19.00 target price on shares of Novavax in a report on Tuesday, November 12th. Jefferies Financial Group decreased their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. B. Riley restated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th.

Hedge Funds Weigh In On Novavax

Institutional investors have recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Novavax in the first quarter valued at about $26,000. Banque Cantonale Vaudoise increased its position in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,500 shares during the period. Amalgamated Bank lifted its holdings in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,036 shares during the period. Signaturefd LLC grew its stake in shares of Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 3,874 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,598 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Up 1.2 %

Shares of Novavax stock opened at $8.72 on Friday. The business has a fifty day simple moving average of $10.40 and a 200 day simple moving average of $12.56. The stock has a market cap of $1.40 billion, a PE ratio of -3.86 and a beta of 2.10. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last announced its quarterly 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 company had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business’s revenue was down 54.8% compared to the same quarter last year. During the same period last year, the company earned ($1.26) earnings per share. Analysts expect that Novavax will post -1.4 EPS 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.