B. Riley Trims Novavax (NASDAQ:NVAX) Target Price to $181.00

Novavax (NASDAQ:NVAXGet Rating) had its target price reduced by B. Riley from $203.00 to $181.00 in a report released on Wednesday, The Fly reports. B. Riley also issued estimates for Novavax’s Q2 2022 earnings at $4.62 EPS, Q3 2022 earnings at $4.30 EPS, Q4 2022 earnings at $4.53 EPS, FY2023 earnings at $3.39 EPS and FY2024 earnings at $4.21 EPS.

A number of other equities analysts also recently commented on the company. HC Wainwright reduced their price objective on Novavax from $294.00 to $207.00 and set a buy rating on the stock in a research report on Thursday, March 3rd. Cowen began coverage on Novavax in a research note on Friday, January 21st. They set an outperform rating and a $150.00 target price for the company. Cantor Fitzgerald cut their target price on Novavax from $282.00 to $174.00 and set an overweight rating for the company in a research note on Monday, February 14th. Jefferies Financial Group began coverage on Novavax in a research note on Tuesday, February 22nd. They set a buy rating and a $198.00 target price for the company. Finally, StockNews.com began coverage on Novavax in a research note on Thursday, March 31st. They set a hold rating for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Novavax currently has a consensus rating of Buy and an average price target of $195.00.

Shares of Novavax stock opened at $51.89 on Wednesday. Novavax has a one year low of $41.33 and a one year high of $277.80. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -2.93 and a beta of 1.59. The business’s 50 day moving average price is $63.89 and its 200 day moving average price is $111.44.

Novavax (NASDAQ:NVAXGet Rating) last announced its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.13). Novavax had a negative return on equity of 572.54% and a negative net margin of 93.91%. The company had revenue of $703.97 million for the quarter, compared to analysts’ expectations of $845.20 million. During the same quarter in the previous year, the business posted ($3.05) EPS. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. Equities analysts predict that Novavax will post 25.77 EPS for the current fiscal year.

In other news, Director James F. Young sold 12,500 shares of Novavax stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $73.58, for a total value of $919,750.00. Following the completion of the sale, the director now directly owns 62,590 shares of the company’s stock, valued at $4,605,372.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Novavax by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,966,943 shares of the biopharmaceutical company’s stock worth $513,116,000 after purchasing an additional 69,936 shares in the last quarter. State Street Corp grew its stake in Novavax by 8.7% during the 4th quarter. State Street Corp now owns 1,899,220 shares of the biopharmaceutical company’s stock worth $271,721,000 after purchasing an additional 152,593 shares in the last quarter. Capital World Investors grew its stake in Novavax by 139.3% during the 3rd quarter. Capital World Investors now owns 1,478,701 shares of the biopharmaceutical company’s stock worth $306,550,000 after purchasing an additional 860,867 shares in the last quarter. Geode Capital Management LLC grew its stake in Novavax by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 983,170 shares of the biopharmaceutical company’s stock worth $140,511,000 after purchasing an additional 26,255 shares in the last quarter. Finally, Norges Bank acquired a new position in Novavax during the 4th quarter worth $88,297,000. 43.91% of the stock is owned by hedge funds and other institutional investors.

About Novavax (Get Rating)

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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