Novavax (NASDAQ:NVAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $2.25 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 24.31% from the stock’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. “
NVAX has been the topic of several other research reports. Cantor Fitzgerald restated a “hold” rating and set a $2.00 target price on shares of Novavax in a report on Monday, December 18th. Citigroup upgraded Novavax from a “neutral” rating to a “buy” rating in a report on Thursday, March 1st. JPMorgan Chase cut Novavax from a “neutral” rating to an “underweight” rating in a report on Monday, March 19th. Ladenburg Thalmann increased their target price on Novavax to $2.50 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Seaport Global Securities upgraded Novavax from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $3.43.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $10.40 million during the quarter, compared to analysts’ expectations of $7.98 million. Novavax’s quarterly revenue was up 92.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. equities analysts anticipate that Novavax will post -0.57 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its holdings in Novavax by 349.8% in the fourth quarter. Teacher Retirement System of Texas now owns 99,952 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 77,733 shares during the last quarter. Aperio Group LLC boosted its holdings in Novavax by 121.1% in the fourth quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 63,155 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Novavax in the fourth quarter valued at about $172,000. Fisher Asset Management LLC bought a new position in Novavax in the fourth quarter valued at about $179,000. Finally, Brown Advisory Inc. boosted its holdings in Novavax by 74.8% in the third quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 69,600 shares during the last quarter. Institutional investors and hedge funds own 36.88% of the company’s stock.
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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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