Analysts Set Novavax, Inc. (NASDAQ:NVAX) PT at $13.00

Novavax, Inc. (NASDAQ:NVAXGet Free Report) has earned an average rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.00.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Novavax in a research note on Tuesday, August 4th. BTIG Research reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Zacks Research cut shares of Novavax from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. TD Cowen boosted their target price on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

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Institutional Investors Weigh In On Novavax

A number of large investors have recently made changes to their positions in the stock. UBS Group AG increased its holdings in shares of Novavax by 40.3% in the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock valued at $32,890,000 after purchasing an additional 1,405,981 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Novavax by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after purchasing an additional 275,802 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Novavax by 107.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company’s stock worth $1,338,000 after purchasing an additional 102,945 shares during the period. Edgestream Partners L.P. purchased a new stake in Novavax in the first quarter valued at approximately $4,234,000. Finally, Monaco Asset Management SAM boosted its position in Novavax by 161.3% in the fourth quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company’s stock valued at $7,022,000 after buying an additional 645,000 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Price Performance

Shares of NVAX stock opened at $7.93 on Friday. Novavax has a 1-year low of $6.20 and a 1-year high of $11.97. The stock’s fifty day moving average price is $8.49 and its 200 day moving average price is $8.91. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -5.22 and a beta of 2.47.

Novavax (NASDAQ:NVAXGet Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same period in the prior year, the company posted $0.62 EPS. The firm’s quarterly revenue was down 76.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Novavax will post -0.43 earnings per share for the current year.

Novavax Company Profile

(Get Free Report)

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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