Novavax (NASDAQ:NVAX) Price Target Lowered to $25.00 at B. Riley

Novavax (NASDAQ:NVAX) had its price target trimmed by B. Riley from $29.00 to $25.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

NVAX has been the subject of several other reports. Bank of America upped their price objective on Novavax from $12.00 to $18.00 and gave the stock a neutral rating in a research note on Friday, June 14th. HC Wainwright restated a buy rating and issued a $19.00 price objective on shares of Novavax in a research note on Monday, May 13th. JPMorgan Chase & Co. lowered Novavax from a neutral rating to an underweight rating and set a $8.00 price objective for the company. in a research note on Tuesday, July 30th. Finally, TD Cowen increased their price target on Novavax from $5.00 to $10.00 and gave the stock a hold rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $16.00.

Novavax Stock Performance

Shares of Novavax stock traded up $0.20 during midday trading on Friday, hitting $11.58. The company had a trading volume of 2,573,449 shares, compared to its average volume of 11,448,411. The stock has a market capitalization of $1.63 billion, a P/E ratio of -3.59 and a beta of 1.99. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The company has a 50 day moving average of $14.65 and a 200 day moving average of $8.80.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The company had revenue of $93.90 million during the quarter, compared to analyst estimates of $71.32 million. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.41) earnings per share. Equities research analysts forecast that Novavax will post 0.46 EPS for the current year.

Insiders Place Their Bets

In other Novavax news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares of the company’s stock, valued at $950,247.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director James F. Young sold 7,500 shares of Novavax stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares of the company’s stock, valued at $950,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now directly owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The disclosure for this sale can be found here. Insiders sold a total of 62,312 shares of company stock valued at $866,212 over the last 90 days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

Institutional investors have recently bought and sold shares of the business. Coatue Management LLC purchased a new position in Novavax in the fourth quarter worth $7,294,000. Shah Capital Management grew its holdings in Novavax by 22.9% in the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares during the last quarter. Farallon Capital Management LLC purchased a new position in Novavax in the first quarter worth $5,406,000. Vanguard Group Inc. grew its holdings in Novavax by 9.3% in the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after purchasing an additional 978,873 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Novavax by 62.4% in the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after purchasing an additional 619,370 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.