Jefferies Financial Group Trims Novavax (NASDAQ:NVAX) Target Price to $25.00

Novavax (NASDAQ:NVAX) had its price objective cut by stock analysts at Jefferies Financial Group from $31.00 to $25.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 147.52% from the company’s current price.

Several other analysts have also recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Performance

Shares of NASDAQ:NVAX traded down $2.50 during midday trading on Wednesday, reaching $10.10. The company had a trading volume of 29,759,333 shares, compared to its average volume of 10,200,289. The company has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $11.68. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -3.17 and a beta of 2.04. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. During the same quarter in the prior year, the company earned $0.58 EPS. Novavax’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts expect that Novavax will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vontobel Holding Ltd. grew its position in Novavax by 110.3% during the third quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock worth $6,296,000 after buying an additional 261,464 shares in the last quarter. Creative Planning boosted its position in shares of Novavax by 34.5% during the 3rd quarter. Creative Planning now owns 32,482 shares of the biopharmaceutical company’s stock valued at $410,000 after acquiring an additional 8,339 shares in the last quarter. SG Americas Securities LLC lifted its stake in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock worth $14,579,000 after purchasing an additional 1,043,363 shares during the period. Algert Global LLC acquired a new stake in Novavax during the second quarter valued at approximately $161,000. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of Novavax by 9.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 343,414 shares of the biopharmaceutical company’s stock worth $4,348,000 after buying an additional 29,834 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

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.