Novavax (NASDAQ:NVAX) PT Lowered to $25.00

Novavax (NASDAQ:NVAX) had its price objective decreased by Jefferies Financial Group from $31.00 to $25.00 in a research note released on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. B. Riley restated a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.83.

Novavax Price Performance

NASDAQ NVAX opened at $10.18 on Wednesday. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The stock has a market capitalization of $1.43 billion, a PE ratio of -3.21 and a beta of 2.04. The business’s 50-day moving average is $12.45 and its 200 day moving average is $11.75.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $458.57 million. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. As a group, equities research analysts anticipate that Novavax will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank increased its position in Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,036 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Novavax by 3.0% during the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 1,300 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 2,447 shares during the last quarter. Banque Cantonale Vaudoise grew its position in Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Creative Planning increased its stake in Novavax by 12.5% during the 2nd quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock valued at $306,000 after purchasing an additional 2,692 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

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.