Novavax (NASDAQ:NVAX) Earns “Buy” Rating from HC Wainwright

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $19.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 113.96% from the company’s current price.

A number of other equities analysts have also recently issued reports on NVAX. Jefferies Financial Group decreased their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. B. Riley reaffirmed a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Novavax currently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Performance

Shares of NVAX stock traded down $0.19 on Tuesday, hitting $8.88. The stock had a trading volume of 932,533 shares, compared to its average volume of 9,399,643. The stock’s 50 day moving average is $9.92 and its 200-day moving average is $12.31. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.93 and a beta of 2.02. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the prior year, the company posted ($1.26) EPS. The company’s revenue for the quarter was down 54.8% on a year-over-year basis. Equities analysts expect that Novavax will post -1.44 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several hedge funds have recently added to or reduced their stakes in NVAX. Banque Cantonale Vaudoise grew its position in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,500 shares during the period. Amalgamated Bank raised its position in shares of Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,036 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Novavax by 214.5% in the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Midland Wealth Advisors LLC acquired a new stake in shares of Novavax during the second quarter worth $152,000. Institutional investors own 53.04% of the company’s stock.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.