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

Shares of Novavax, Inc. (NASDAQ:NVAX) have been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the firm, MarketBeat 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 12 month price target among brokers that have issued a report on the stock in the last year is $12.1250.

NVAX has been the subject of a number of research analyst reports. TD Cowen boosted their target price on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Weiss Ratings downgraded Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, January 20th. Finally, Wall Street Zen upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shah Capital Management boosted its holdings in shares of Novavax by 23.3% during the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after buying an additional 2,747,000 shares during the period. State Street Corp grew its position in shares of Novavax by 32.3% in the fourth quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after purchasing an additional 2,326,927 shares during the last quarter. UBS Group AG increased its stake in shares of Novavax by 40.3% during the fourth 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 period. Allianz Asset Management GmbH grew its holdings in Novavax by 162.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock valued at $12,222,000 after buying an additional 872,987 shares in the last quarter. Finally, Farallon Capital Management LLC increased its position in Novavax by 4,775.0% during the 3rd quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock worth $6,763,000 after buying an additional 764,000 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Trading Up 1.3%

NVAX stock opened at $9.35 on Friday. The firm has a market cap of $1.54 billion, a PE ratio of -16.12 and a beta of 2.37. Novavax has a 1 year low of $5.96 and a 1 year high of $11.97. The company has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $8.24.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Novavax’s revenue was down 79.0% compared to the same quarter last year. As a group, analysts forecast that Novavax will post -0.2 EPS for the current fiscal year.

About Novavax

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.