Novavax, Inc. (NASDAQ:NVAX) Receives $19.20 Average Price Target from Analysts

Novavax, Inc. (NASDAQ:NVAX) has received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.00.

NVAX has been the topic of several analyst reports. TD Cowen raised shares of Novavax to a “hold” rating in a research report on Thursday, February 27th. B. Riley reissued a “buy” rating on shares of Novavax in a research report on Monday, May 19th. Citigroup assumed coverage on shares of Novavax in a research report on Tuesday, June 17th. They set a “sell” rating and a $6.00 target price on the stock. BTIG Research assumed coverage on shares of Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 9th.

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Novavax by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 15,726,250 shares of the biopharmaceutical company’s stock valued at $126,439,000 after buying an additional 296,181 shares during the period. Sanofi bought a new stake in shares of Novavax in the fourth quarter valued at about $55,319,000. Geode Capital Management LLC lifted its stake in shares of Novavax by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,657,695 shares of the biopharmaceutical company’s stock valued at $29,415,000 after buying an additional 155,206 shares during the period. Park West Asset Management LLC bought a new stake in shares of Novavax in the first quarter valued at about $16,210,000. Finally, Deep Track Capital LP bought a new stake in shares of Novavax in the fourth quarter valued at about $16,080,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Price Performance

Novavax stock opened at $6.41 on Tuesday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 2.42, a PEG ratio of 0.07 and a beta of 2.80. Novavax has a one year low of $5.01 and a one year high of $17.81. The company’s fifty day moving average price is $6.74 and its two-hundred day moving average price is $7.64.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, topping the consensus estimate of $0.71 by $2.22. The firm had revenue of $666.66 million for the quarter, compared to the consensus estimate of $204.08 million. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. The business’s quarterly revenue was up 610.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.05) earnings per share. As a group, sell-side analysts anticipate that Novavax will post -1.46 earnings per share for the current 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.