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

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned an average recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.80.

Several research firms have weighed in on NVAX. B. Riley reiterated a “buy” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Novavax in a research note on Monday, August 12th. Bank of America lifted their price target on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. increased their price objective on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th.

Novavax Stock Performance

Novavax stock opened at $12.91 on Friday. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -4.07 and a beta of 2.04. The company has a 50 day moving average price of $13.01 and a 200 day moving average price of $10.69.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. Equities analysts forecast that Novavax will post -1.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new position in Novavax during the fourth quarter valued at approximately $72,000. BNP Paribas Financial Markets raised its holdings in Novavax by 48.3% in the 4th quarter. BNP Paribas Financial Markets now owns 861,479 shares of the biopharmaceutical company’s stock worth $4,135,000 after acquiring an additional 280,381 shares during the period. Allianz Asset Management GmbH raised its holdings in Novavax by 45.9% in the 4th quarter. Allianz Asset Management GmbH now owns 634,692 shares of the biopharmaceutical company’s stock worth $3,047,000 after acquiring an additional 199,771 shares during the period. Rafferty Asset Management LLC lifted its position in Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after acquiring an additional 619,370 shares during the last quarter. Finally, Pennant Investors LP bought a new stake in Novavax during the fourth quarter valued at about $289,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Company Profile

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.