Analysts Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $18.00

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $18.00.

Several equities analysts recently commented on NVAX shares. TD Cowen upgraded Novavax to a “hold” rating in a research note on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. Finally, BTIG Research began coverage on Novavax in a research note on Friday, February 28th. They issued a “buy” rating and a $19.00 price objective on the stock.

Novavax Price Performance

Shares of NASDAQ:NVAX opened at $6.24 on Thursday. Novavax has a 1 year low of $3.81 and a 1 year high of $23.86. The company has a market capitalization of $1.00 billion, a PE ratio of -2.76, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92. The business has a fifty day moving average price of $7.84 and a two-hundred day moving average price of $9.11.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter last year, the business posted ($1.44) EPS. Sell-side analysts anticipate that Novavax will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NVAX. Sanofi purchased a new stake in shares of Novavax in the fourth quarter worth about $55,319,000. Deep Track Capital LP bought a new stake in Novavax during the 4th quarter worth approximately $16,080,000. State Street Corp lifted its stake in Novavax by 26.7% in the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after purchasing an additional 1,621,772 shares in the last quarter. Shah Capital Management boosted its holdings in Novavax by 13.6% in the 4th 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 grew its position in shares of Novavax by 48.9% during the 3rd 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 in the last quarter. Institutional investors 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.