Novavax, Inc. (NASDAQ:NVAX) has been assigned an average rating of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $4.00.
A number of brokerages have weighed in on NVAX. Cantor Fitzgerald reissued a “neutral” rating on shares of Novavax in a report on Friday, November 23rd. CIBC began coverage on shares of Novavax in a report on Tuesday, December 11th. They set an “outperform” rating and a $4.00 target price on the stock. Piper Jaffray Companies raised shares of Novavax from a “neutral” rating to an “overweight” rating and set a $1.93 target price on the stock in a report on Sunday, December 2nd. BidaskClub cut shares of Novavax from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Finally, JPMorgan Chase & Co. raised shares of Novavax from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $2.00 to $2.25 in a report on Friday, September 21st.
Shares of NASDAQ:NVAX opened at $2.41 on Tuesday. Novavax has a 1-year low of $1.05 and a 1-year high of $2.75.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Novavax by 22.8% in the 2nd quarter. Rhumbline Advisers now owns 375,833 shares of the biopharmaceutical company’s stock worth $504,000 after acquiring an additional 69,675 shares during the period. DAFNA Capital Management LLC acquired a new position in Novavax during the 2nd quarter valued at about $1,005,000. B. Riley Financial Inc. increased its stake in Novavax by 2,432.3% during the 2nd quarter. B. Riley Financial Inc. now owns 265,894 shares of the biopharmaceutical company’s stock valued at $357,000 after buying an additional 255,394 shares during the period. Bank of America Corp DE increased its stake in Novavax by 202.7% during the 2nd quarter. Bank of America Corp DE now owns 521,460 shares of the biopharmaceutical company’s stock valued at $698,000 after buying an additional 349,209 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Novavax by 590.9% during the 2nd quarter. GSA Capital Partners LLP now owns 832,500 shares of the biopharmaceutical company’s stock valued at $1,116,000 after buying an additional 712,000 shares during the period. 40.87% of the stock is currently owned by institutional investors and hedge funds.
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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