Novavax, Inc. (NASDAQ:NVAX) Receives $12.13 Average Target Price from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.1250.

NVAX has been the subject of a number of analyst reports. Weiss Ratings lowered Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. TD Cowen upped their target price on Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of Novavax in a report on Thursday, April 9th.

Novavax Stock Down 9.2%

Novavax stock opened at $8.62 on Tuesday. The business has a fifty day moving average of $8.92 and a two-hundred day moving average of $8.49. The firm has a market cap of $1.42 billion, a P/E ratio of -14.86 and a beta of 2.45. Novavax has a twelve month low of $6.13 and a twelve month high of $11.97.

Novavax (NASDAQ:NVAX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. The company had revenue of $118.90 million during the quarter, compared to analyst estimates of $79.81 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.Novavax’s revenue was down 79.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. Equities analysts expect that Novavax will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

A number of large investors have recently made changes to their positions in NVAX. AQR Capital Management LLC increased its position in shares of Novavax by 95.2% during the first quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 21,663 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Novavax by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 2,750 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Novavax during the first quarter worth $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Novavax by 16.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company’s stock worth $2,005,000 after purchasing an additional 44,105 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Novavax during the first quarter worth $167,000. 53.04% of the stock is owned by institutional investors and hedge funds.

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.