Novavax, Inc. (NASDAQ:NVAX) Receives $11.88 Average Price Target from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned an average recommendation of “Hold” from the ten analysts that are covering the stock, Marketbeat reports. Three equities 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 price target among brokers that have updated their coverage on the stock in the last year is $11.8750.

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings raised shares of Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 12th. BTIG Research reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Finally, B. Riley Financial reissued a “buy” rating on shares of Novavax in a report on Thursday, April 9th.

Novavax Trading Up 2.3%

NASDAQ NVAX opened at $8.84 on Monday. The company’s fifty day simple moving average is $9.18 and its 200-day simple moving average is $8.25. Novavax has a 52 week low of $5.80 and a 52 week high of $11.97. The stock has a market cap of $1.44 billion, a P/E ratio of 3.67 and a beta of 2.65.

Novavax (NASDAQ:NVAX) last posted its 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. Novavax had a net margin of 39.19% and a negative return on equity of 673.17%. The business had revenue of $136.40 million for the quarter, compared to analysts’ expectations of $90.26 million. During the same period in the previous year, the company posted ($0.51) earnings per share. The business’s revenue for the quarter was up 66.6% compared to the same quarter last year. On average, research analysts expect that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently modified their holdings of NVAX. Shah Capital Management increased its position in shares of Novavax by 23.3% in the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after purchasing an additional 2,747,000 shares during the last quarter. State Street Corp increased its position in shares of Novavax by 32.3% in the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock worth $63,999,000 after purchasing an additional 2,326,927 shares during the last quarter. UBS Group AG increased its position in shares of Novavax by 40.3% in the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after purchasing an additional 1,405,981 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Novavax by 162.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock worth $12,222,000 after purchasing an additional 872,987 shares during the last quarter. Finally, Farallon Capital Management LLC increased its position in shares of Novavax by 4,775.0% in the 3rd quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock worth $6,763,000 after purchasing an additional 764,000 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.