Novavax, Inc. (NASDAQ:NVAX) Given Average Rating of “Hold” by Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have received a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.83.

A number of equities analysts have weighed in on the company. B. Riley reiterated a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Jefferies Financial Group reduced their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th.

Institutional Investors Weigh In On Novavax

Several institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its holdings in Novavax by 110.3% in the 3rd 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 during the last quarter. Creative Planning boosted its holdings in Novavax by 34.5% in the 3rd quarter. Creative Planning now owns 32,482 shares of the biopharmaceutical company’s stock worth $410,000 after buying an additional 8,339 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Novavax by 940.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock worth $14,579,000 after buying an additional 1,043,363 shares during the last quarter. Algert Global LLC acquired a new stake in Novavax in the 2nd quarter worth about $161,000. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in Novavax by 9.5% in 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 last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Stock Performance

NASDAQ NVAX opened at $10.15 on Thursday. The stock has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $11.67. The firm has a market capitalization of $1.43 billion, a P/E ratio of -3.20 and a beta of 2.04. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.

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

About Novavax

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.