Wall Street Zen upgraded shares of Novavax (NASDAQ:NVAX – Free Report) from a sell rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.
Other equities research analysts have also issued reports about the company. BTIG Research restated a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Thursday, June 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Novavax in a report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.00.
View Our Latest Research Report on NVAX
Novavax Price Performance
Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The business’s quarterly revenue was down 76.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Novavax will post -0.47 earnings per share for the current year.
Hedge Funds Weigh In On Novavax
Large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new position in Novavax in the 2nd quarter worth approximately $42,000. Squarepoint Ops LLC bought a new stake in shares of Novavax in the second quarter valued at approximately $1,258,000. Allworth Financial LP boosted its position in shares of Novavax by 292.5% in the second quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 3,244 shares during the period. Corient Private Wealth LP acquired a new stake in shares of Novavax in the second quarter worth $155,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Novavax in the second quarter worth $739,000. Institutional investors and hedge funds own 53.04% of the company’s stock.
About Novavax
Novavax, Inc is a biotechnology company focused on discovering, developing and commercializing vaccines for infectious diseases. The company’s vaccine platform uses recombinant nanoparticle technology and Matrix-M, its proprietary saponin-based adjuvant, which is designed to enhance and broaden immune responses.
Novavax’s primary commercial product is Nuvaxovid, a protein-based COVID-19 vaccine authorized in multiple markets. The vaccine has also been marketed as Covovax through partnerships in certain countries.
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