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

Shares of Novavax, Inc. (NASDAQ:NVAX) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $17.83.

A number of research analysts have recently commented on NVAX shares. Jefferies Financial Group cut their price target on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. Finally, B. Riley restated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th.

Novavax Stock Down 2.2 %

NVAX stock opened at $8.28 on Tuesday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 2.02. The firm has a 50 day moving average of $8.86 and a two-hundred day moving average of $11.55. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. The firm’s revenue was down 54.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.26) EPS. On average, research analysts expect that Novavax will post -1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after acquiring an additional 1,300 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the period. Victory Capital Management Inc. raised its position in shares of Novavax by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its position in shares of 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. 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.