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

HC Wainwright reiterated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $19.00 price objective on the biopharmaceutical company’s stock.

NVAX has been the subject of a number of other research reports. Jefferies Financial Group dropped their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. B. Riley restated a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Performance

Shares of Novavax stock opened at $9.02 on Tuesday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -3.99 and a beta of 2.02. The stock has a 50 day moving average price of $9.62 and a 200-day moving average price of $12.22. Novavax has a one year low of $3.53 and a one year high of $23.86.

Novavax (NASDAQ:NVAX) last announced 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 during the quarter, compared to analysts’ expectations of $65.80 million. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.26) EPS. Sell-side analysts predict that Novavax will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Novavax by 16.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,325,508 shares of the biopharmaceutical company’s stock valued at $16,741,000 after purchasing an additional 187,548 shares in the last quarter. Bank of Montreal Can raised its position in Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after purchasing an additional 517,727 shares in the last quarter. Shah Capital Management raised its position in Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares in the last quarter. Vontobel Holding Ltd. raised its position in Novavax by 110.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock valued at $6,296,000 after purchasing an additional 261,464 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Novavax during the 3rd quarter valued at $1,580,000. 53.04% of the stock is 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.