Novavax’s (NVAX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Novavax (NASDAQ:NVAX) in a report published on Tuesday,Benzinga reports. They currently have a $19.00 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Novavax’s Q3 2024 earnings at ($0.64) EPS, Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at $0.09 EPS.

Several other brokerages have also commented on NVAX. Jefferies Financial Group decreased their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Novavax has an average rating of “Hold” and an average target price of $17.83.

Novavax Trading Down 1.1 %

Shares of NASDAQ:NVAX traded down $0.08 during trading on Tuesday, hitting $7.14. The company’s stock had a trading volume of 4,097,015 shares, compared to its average volume of 9,772,424. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86. The stock’s 50-day moving average price is $11.44 and its two-hundred day moving average price is $12.41.

Novavax (NASDAQ:NVAX) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.11. The company had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. The business’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.26) EPS. As a group, sell-side analysts predict that Novavax will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Novavax

Several hedge funds have recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Novavax in the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise increased its position in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,500 shares during the period. Herr Investment Group LLC bought a new stake in Novavax during the 1st quarter valued at $48,000. Alpine Global Management LLC bought a new stake in Novavax during the 1st quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. boosted its position in Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,711 shares during the period. 53.04% of the stock is currently owned by institutional investors.

About Novavax

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.