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

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research 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 12 month target price among brokers that have issued ratings on the stock in the last year is $12.1250.

NVAX has been the subject of a number of research analyst reports. HC Wainwright increased their price target on Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Sunday, May 31st. Weiss Ratings downgraded Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Finally, TD Cowen increased their price objective on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th.

Institutional Trading of Novavax

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

Novavax Trading Down 6.9%

Shares of NVAX opened at $9.49 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -16.36 and a beta of 2.45. The stock has a 50 day moving average of $8.92 and a 200 day moving average of $8.47. Novavax has a 12 month low of $6.13 and a 12 month high of $11.97.

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