Novavax (NASDAQ:NVAX) Rating Increased to Hold at TD Cowen

TD Cowen upgraded shares of Novavax (NASDAQ:NVAX) to a hold rating in a research note released on Thursday morning,Zacks.com reports.

A number of other research firms have also recently issued reports on NVAX. BTIG Research started coverage on Novavax in a report on Friday. They set a “buy” rating and a $19.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.00.

Novavax Stock Up 18.0 %

Shares of NASDAQ NVAX opened at $8.33 on Thursday. The company has a market capitalization of $1.33 billion, a PE ratio of -3.69, a P/E/G ratio of 2.85 and a beta of 2.14. Novavax has a twelve month low of $3.81 and a twelve month high of $23.86. The firm has a fifty day simple moving average of $8.52 and a 200 day simple moving average of $10.00.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.24. The business had revenue of $88.31 million during the quarter, compared to the consensus estimate of $85.48 million. During the same period last year, the business posted ($1.44) earnings per share. As a group, equities analysts expect that Novavax will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Novavax

In other news, Director James F. Young sold 4,600 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $8.48, for a total value of $39,008.00. Following the completion of the sale, the director now directly owns 57,160 shares of the company’s stock, valued at $484,716.80. This represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the transaction, the director now directly owns 14,770 shares in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,150 shares of company stock worth $119,641. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVAX. Charles Schwab Investment Management Inc. increased its stake in Novavax by 16.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after buying an additional 187,548 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Novavax by 26.7% in the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares in the last quarter. State Street Corp increased its position in shares of Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after acquiring an additional 1,621,772 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Novavax by 300.4% during the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock valued at $1,226,000 after acquiring an additional 72,894 shares during the last quarter. Finally, Shah Capital Management lifted its holdings in Novavax by 13.6% during the fourth quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company’s stock worth $89,637,000 after acquiring an additional 1,333,305 shares during the period. 53.04% of the stock is owned by institutional investors.

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.