StockNews.com Begins Coverage on Novavax (NASDAQ:NVAX)

StockNews.com initiated coverage on shares of Novavax (NASDAQ:NVAX – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the stock. B. Riley cut shares of Novavax from a buy rating to a neutral rating in a research note on Wednesday, March 1st. Jefferies Financial Group initiated coverage on shares of Novavax in a research note on Friday, December 2nd. They set a hold rating for the company. Finally, HC Wainwright reaffirmed a buy rating and set a $110.00 price objective on shares of Novavax in a research note on Monday, February 13th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $76.29.

Novavax Trading Down 0.3 %

NVAX opened at $5.95 on Thursday. The firm has a 50-day moving average price of $9.74 and a 200-day moving average price of $16.13. Novavax has a twelve month low of $5.68 and a twelve month high of $85.60.

Novavax (NASDAQ:NVAX – Get Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.36). The firm had revenue of $357.40 million for the quarter, compared to analysts’ expectations of $383.14 million. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the firm earned ($11.18) EPS. Equities research analysts anticipate that Novavax will post -5.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently bought and sold shares of NVAX. Neo Ivy Capital Management purchased a new position in Novavax in the 3rd quarter worth approximately $37,000. Money Concepts Capital Corp bought a new stake in shares of Novavax in the 4th quarter worth approximately $37,000. CI Investments Inc. lifted its holdings in shares of Novavax by 1,572.8% in the 4th quarter. CI Investments Inc. now owns 3,747 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 3,523 shares during the last quarter. Credit Agricole S A lifted its holdings in shares of Novavax by 65.8% in the 3rd quarter. Credit Agricole S A now owns 2,520 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Novavax by 328.3% in the 4th quarter. IFP Advisors Inc now owns 6,994 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 5,361 shares during the last quarter. Hedge funds and other institutional investors own 45.70% of the company’s stock.

About Novavax

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Novavax, Inc Is a biotechnology company, which engages in the discovery, development, and commercialization of recombinant vaccines. The company was founded in 1987 and is headquartered in Gaithersburg, MD.