Novavax (NASDAQ:NVAX) had its target price boosted by HC Wainwright from $50.00 to $101.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 21.18% from the stock’s current price.
Other analysts also recently issued reports about the stock. B. Riley lifted their price objective on shares of Novavax from $61.00 to $74.00 in a report on Friday, June 5th. BidaskClub upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating in a report on Friday, May 15th. Cantor Fitzgerald lifted their price objective on shares of Novavax from $45.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, June 19th. LADENBURG THALM/SH SH lifted their price objective on shares of Novavax from $38.00 to $50.00 in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating and set a $46.00 price objective on the stock in a report on Friday, June 5th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.81.
Shares of NVAX stock opened at $83.35 on Monday. The company has a market capitalization of $4.99 billion, a P/E ratio of -20.13 and a beta of 1.33. The company’s 50 day moving average price is $52.41 and its two-hundred day moving average price is $20.81. Novavax has a 52 week low of $3.54 and a 52 week high of $89.50.
Novavax (NASDAQ:NVAX) last announced its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.09. The company had revenue of $3.38 million for the quarter, compared to analyst estimates of $3.50 million. During the same quarter last year, the business posted ($2.20) earnings per share. On average, sell-side analysts forecast that Novavax will post -0.57 earnings per share for the current year.
In other news, Director James F. Young bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average cost of $48.83 per share, with a total value of $73,245.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory M. Glenn sold 16,749 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $59.53, for a total transaction of $997,067.97. Following the completion of the transaction, the insider now directly owns 18,588 shares of the company’s stock, valued at $1,106,543.64. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Novavax by 35.7% during the first quarter. State Street Corp now owns 579,632 shares of the biopharmaceutical company’s stock worth $7,871,000 after purchasing an additional 152,556 shares during the period. Royal Bank of Canada boosted its position in Novavax by 72.3% during the first quarter. Royal Bank of Canada now owns 17,360 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 7,286 shares during the period. AXA bought a new position in Novavax during the first quarter worth $462,000. Advisor Group Holdings Inc. bought a new position in Novavax during the first quarter worth $687,000. Finally, Squarepoint Ops LLC boosted its position in Novavax by 4.8% during the first quarter. Squarepoint Ops LLC now owns 45,251 shares of the biopharmaceutical company’s stock worth $615,000 after purchasing an additional 2,075 shares during the period. 22.80% of the stock is owned by hedge funds and other institutional investors.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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