Novavax, Inc. (NASDAQ:NVAX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $13.00.

A number of brokerages recently issued reports on NVAX. Weiss Ratings downgraded Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. B. Riley Financial reiterated a “buy” rating on shares of Novavax in a report on Thursday, April 9th. Zacks Research upgraded Novavax from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Finally, BTIG Research restated a “buy” rating and set a $19.00 target price on shares of Novavax in a report on Thursday, June 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NVAX. Edgestream Partners L.P. purchased a new stake in shares of Novavax in the 1st quarter worth about $4,234,000. California State Teachers Retirement System boosted its stake in shares of Novavax by 39.9% during the 1st quarter. California State Teachers Retirement System now owns 186,638 shares of the biopharmaceutical company’s stock valued at $1,519,000 after purchasing an additional 53,234 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Novavax by 53.4% during the first quarter. Quantinno Capital Management LP now owns 35,359 shares of the biopharmaceutical company’s stock valued at $288,000 after buying an additional 12,304 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Novavax during the first quarter valued at about $4,049,000. Finally, Caxton Associates LLP bought a new position in Novavax in the first quarter worth about $90,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Stock Down 1.6%

Shares of Novavax stock opened at $7.37 on Wednesday. The firm has a market cap of $1.21 billion, a PE ratio of -12.71 and a beta of 2.43. Novavax has a 12-month low of $6.20 and a 12-month high of $11.97. The company’s fifty day simple moving average is $9.10 and its two-hundred day simple moving average is $9.00.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.19. The firm had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The company’s quarterly revenue was down 79.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.93 earnings per share. As a group, sell-side analysts expect that Novavax will post -0.19 earnings per share 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.