Novavax, Inc. (NASDAQ:NVAX) Given Average Recommendation of “Hold” by Brokerages
by Scott Moore · The Cerbat GemShares of Novavax, Inc. (NASDAQ:NVAX – Get Free Report) have been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.8750.
NVAX has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Weiss Ratings raised Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 12th. Finally, HC Wainwright raised their price target on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th.
View Our Latest Stock Analysis on NVAX
Novavax Stock Performance
NASDAQ:NVAX opened at $8.84 on Monday. Novavax has a 1-year low of $5.80 and a 1-year high of $11.97. The business’s 50-day moving average price is $9.18 and its two-hundred day moving average price is $8.24. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 3.67 and a beta of 2.65.
Novavax (NASDAQ:NVAX – Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.77. The company had revenue of $136.40 million for the quarter, compared to analyst estimates of $90.26 million. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.Novavax’s revenue was up 66.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. Sell-side analysts predict that Novavax will post -1.46 earnings per share for the current year.
Institutional Investors Weigh In On Novavax
A number of hedge funds have recently modified their holdings of NVAX. Flagship Harbor Advisors LLC acquired a new stake in shares of Novavax during the fourth quarter worth about $33,000. Quarry LP bought a new position in shares of Novavax during the third quarter worth about $33,000. State of Wyoming bought a new position in shares of Novavax during the second quarter worth about $52,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novavax by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 1,617 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of Novavax during the third quarter worth about $64,000. Institutional investors and hedge funds own 53.04% of the company’s stock.
About Novavax
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.