Novavax (NASDAQ:NVAX) Earns Sell Rating from Analysts at Citigroup

Research analysts at Citigroup began coverage on shares of Novavax (NASDAQ:NVAX) in a research report issued on Tuesday,Benzinga reports. The firm set a “sell” rating and a $6.00 price target on the biopharmaceutical company’s stock. Citigroup’s price objective suggests a potential downside of 14.65% from the company’s current price.

Other analysts also recently issued research reports about the company. BTIG Research assumed 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. B. Riley reissued a “buy” rating on shares of Novavax in a report on Monday, May 19th. TD Cowen upgraded shares of Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. decreased their price target on Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Novavax has an average rating of “Hold” and an average target price of $17.00.

Novavax Trading Up 1.3%

NVAX stock opened at $7.03 on Tuesday. The stock’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $7.69. Novavax has a 12-month low of $5.01 and a 12-month high of $17.81. The firm has a market cap of $1.14 billion, a P/E ratio of -3.11, a P/E/G ratio of 2.85 and a beta of 2.80.

Novavax (NASDAQ:NVAX) last released its quarterly 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. During the same quarter in the prior year, the company posted ($1.05) EPS. The firm’s revenue was up 610.3% on a year-over-year basis. On average, research analysts forecast that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. E Fund Management Co. Ltd. lifted its holdings in shares of Novavax by 5.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 1,219 shares during the last quarter. Bank of New York Mellon Corp grew its position in Novavax by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock worth $3,509,000 after acquiring an additional 1,664 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Novavax by 4.4% during the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 2,124 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Novavax by 16.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 2,287 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Novavax by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 2,750 shares during the last quarter. Hedge funds and other 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.