Novavax (NASDAQ:NVAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm presently has a $0.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 20.00% from the company’s previous close.
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. “
Several other equities research analysts have also commented on the stock. Piper Jaffray Companies boosted their target price on shares of Novavax to $4.50 and gave the stock a “positive” rating in a research report on Thursday, January 3rd. HC Wainwright initiated coverage on shares of Novavax in a research report on Monday, January 28th. They set a “buy” rating and a $6.00 target price on the stock. BidaskClub upgraded shares of Novavax from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Cantor Fitzgerald restated a “hold” rating and set a $2.00 target price on shares of Novavax in a research report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. lowered shares of Novavax from an “overweight” rating to an “underweight” rating in a research report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.94.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Monday, March 18th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $6.13 million for the quarter, compared to analysts’ expectations of $7.87 million. During the same quarter last year, the business posted ($0.16) EPS. As a group, equities analysts anticipate that Novavax will post -0.43 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. raised its stake in shares of Novavax by 209.1% during the 4th quarter. B. Riley Wealth Management Inc. now owns 77,055 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 52,130 shares during the last quarter. Amalgamated Bank raised its stake in shares of Novavax by 32.0% during the 4th quarter. Amalgamated Bank now owns 54,361 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 13,171 shares during the last quarter. Millennium Management LLC raised its stake in shares of Novavax by 127.8% during the 4th quarter. Millennium Management LLC now owns 2,934,275 shares of the biopharmaceutical company’s stock worth $5,399,000 after buying an additional 1,645,934 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Novavax by 30.9% during the 4th quarter. Legal & General Group Plc now owns 74,389 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 17,575 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Novavax by 76.6% during the 4th quarter. Jane Street Group LLC now owns 309,022 shares of the biopharmaceutical company’s stock worth $569,000 after buying an additional 134,022 shares during the last quarter. 41.41% of the stock is owned by institutional investors and hedge funds.
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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