Novavax, Inc. (NASDAQ:NVAX) Receives $14.00 Average Target Price from Brokerages

by · The Markets Daily

Shares of Novavax, Inc. (NASDAQ:NVAX – Get Free Report) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $14.00.

NVAX has been the topic of several recent analyst reports. Zacks Research cut Novavax from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Novavax in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th.

View Our Latest Stock Analysis on Novavax

Novavax Stock Performance

Novavax stock opened at $9.35 on Thursday. Novavax has a fifty-two week low of $6.20 and a fifty-two week high of $11.97. The stock has a market cap of $1.54 billion, a P/E ratio of -6.15 and a beta of 2.45. The firm’s fifty day moving average price is $8.62 and its 200-day moving average price is $9.00.

Novavax (NASDAQ:NVAX – Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $52.51 million. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was down 76.2% on a year-over-year basis. Sell-side analysts predict that Novavax will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Novavax in the second quarter valued at $8,004,000. Vanguard Group Inc. lifted its stake in 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 last quarter. Edgestream Partners L.P. bought a new stake in Novavax during the first quarter worth about $4,234,000. Renaissance Technologies LLC purchased a new position in shares of Novavax in the 1st quarter worth about $4,049,000. Finally, Monaco Asset Management SAM boosted its holdings in shares of Novavax by 161.3% in the 4th quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company’s stock worth $7,022,000 after purchasing an additional 645,000 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

About Novavax

(Get Free Report)

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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