Analysts Set Novavax, Inc. (NASDAQ:NVAX) PT at $17.83

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the six analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.83.

NVAX has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. B. Riley reaffirmed a “buy” rating and set a $26.00 price target (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group reduced their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of Novavax by 300.4% in the third quarter. Franklin Resources Inc. now owns 97,162 shares of the biopharmaceutical company’s stock valued at $1,226,000 after purchasing an additional 72,894 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Novavax in the 3rd quarter worth $714,000. Geode Capital Management LLC lifted its stake in shares of Novavax by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock valued at $44,245,000 after purchasing an additional 304,159 shares in the last quarter. Barclays PLC grew its stake in Novavax by 73.9% during the third quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company’s stock worth $8,961,000 after buying an additional 301,627 shares during the period. Finally, XTX Topco Ltd boosted its position in shares of Novavax by 147.6% in the third quarter. XTX Topco Ltd now owns 63,126 shares of the biopharmaceutical company’s stock worth $797,000 after buying an additional 37,631 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Price Performance

NASDAQ NVAX opened at $8.30 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of -3.67 and a beta of 2.02. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The company has a fifty day moving average of $10.07 and a 200 day moving average of $12.43.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the prior year, the firm earned ($1.26) EPS. The firm’s revenue for the quarter was down 54.8% on a year-over-year basis. Research analysts expect that Novavax will post -1.4 earnings per share for the current year.

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.