Novavax (NASDAQ:NVAX – Get 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.
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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