Brokerages Set Novavax, Inc. (NASDAQ:NVAX) PT at $14.29

Shares of Novavax, Inc. (NASDAQ:NVAX) have been given a consensus rating of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.2857.

Several analysts have recently issued reports on NVAX shares. Bank of America reiterated an “underperform” rating and issued a $7.00 price objective (down from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Citigroup began coverage on Novavax in a research note on Tuesday, June 17th. They issued a “sell” rating and a $6.00 price objective on the stock. Finally, HC Wainwright assumed coverage on shares of Novavax in a research note on Thursday, August 28th. They set a “buy” rating and a $10.00 target price for the company.

Novavax Trading Up 9.6%

Shares of NASDAQ NVAX opened at $9.50 on Thursday. Novavax has a twelve month low of $5.01 and a twelve month high of $15.22. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93. The stock has a fifty day simple moving average of $8.06 and a 200-day simple moving average of $7.23. The stock has a market capitalization of $1.54 billion, a PE ratio of 4.17, a PEG ratio of 0.11 and a beta of 2.74.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.69. The business had revenue of $239.24 million during the quarter, compared to analysts’ expectations of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The company’s revenue was down 42.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, equities analysts forecast that Novavax will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new position in Novavax in the fourth quarter valued at $27,000. State of Wyoming purchased a new stake in shares of Novavax in the 2nd quarter valued at about $52,000. Signaturefd LLC lifted its holdings in shares of Novavax by 47.2% in the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 3,122 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Novavax in the 2nd quarter valued at about $70,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Novavax in the 1st quarter valued at about $71,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.