Novavax, Inc. (NASDAQ:NVAX) Receives $13.00 Average Price Target from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been given a consensus recommendation of “Hold” by the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.00.

A number of brokerages recently commented on NVAX. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. TD Cowen increased their target price on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. BTIG Research restated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research note on Thursday, March 12th.

Institutional Investors Weigh In On Novavax

Large investors have recently modified their holdings of the business. Shah Capital Management increased its stake in 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 purchasing an additional 2,747,000 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Novavax by 4,775.0% in the third quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock valued at $6,763,000 after buying an additional 764,000 shares in the last quarter. UBS Group AG lifted its stake in Novavax by 40.3% in the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock valued at $32,890,000 after buying an additional 1,405,981 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Novavax by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock valued at $103,961,000 after buying an additional 275,802 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Novavax by 107.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company’s stock valued at $1,338,000 after buying an additional 102,945 shares during the period. 53.04% of the stock is currently owned by institutional investors.

Novavax Stock Performance

NASDAQ:NVAX opened at $9.46 on Friday. The stock’s fifty day moving average price is $9.18 and its two-hundred day moving average price is $8.77. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -16.31 and a beta of 2.43. Novavax has a 52-week low of $6.20 and a 52-week high of $11.97.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The firm had revenue of $118.90 million during the quarter, compared to analyst estimates of $79.81 million. During the same period last year, the company earned $2.93 earnings per share. The company’s revenue was down 79.0% on a year-over-year basis. On average, equities analysts predict that Novavax will post -0.19 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.