Novavax (NVAX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Novavax (NASDAQ:NVAX) from a hold rating to a buy rating in a research report released on Tuesday morning. The firm currently has $2.25 price objective on the biopharmaceutical company’s stock.

According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “

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A number of other brokerages also recently weighed in on NVAX. BidaskClub upgraded shares of Novavax from a buy rating to a strong-buy rating in a research report on Wednesday, February 21st. Citigroup upped their price objective on shares of Novavax from $2.00 to $2.75 and gave the stock a neutral rating in a research report on Wednesday, February 21st. Ladenburg Thalmann Financial Services reiterated a buy rating and issued a $3.50 price objective on shares of Novavax in a research report on Thursday, March 1st. B. Riley set a $10.00 price objective on shares of Novavax and gave the stock a buy rating in a research report on Thursday, March 1st. Finally, Chardan Capital reiterated a hold rating on shares of Novavax in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $3.43.

Shares of Novavax stock opened at $2.02 on Tuesday. The stock has a market capitalization of $708.11, a price-to-earnings ratio of -3.21 and a beta of 2.38. Novavax has a fifty-two week low of $0.73 and a fifty-two week high of $2.75. The company has a debt-to-equity ratio of -3.12, a current ratio of 2.76 and a quick ratio of 2.76.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $10.40 million for the quarter, compared to analyst estimates of $7.98 million. The business’s revenue for the quarter was up 92.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) EPS. sell-side analysts predict that Novavax will post -0.57 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in shares of Novavax by 30.8% during the 3rd quarter. Wells Fargo & Company MN now owns 446,831 shares of the biopharmaceutical company’s stock worth $509,000 after purchasing an additional 105,117 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Novavax by 6.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,225,018 shares of the biopharmaceutical company’s stock worth $1,397,000 after purchasing an additional 71,047 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Novavax during the 4th quarter worth about $329,000. Virtu Financial LLC raised its position in shares of Novavax by 11,061.4% during the 4th quarter. Virtu Financial LLC now owns 1,124,842 shares of the biopharmaceutical company’s stock worth $1,395,000 after purchasing an additional 1,114,764 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Novavax by 54.8% during the 4th quarter. Brown Advisory Inc. now owns 251,900 shares of the biopharmaceutical company’s stock worth $312,000 after purchasing an additional 89,200 shares during the last quarter. Hedge funds and other institutional investors own 36.88% of the company’s stock.

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Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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