Novavax, Inc. (NASDAQ:NVAX) Receives Consensus Rating of “Hold” from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.83.

Several research firms have recently weighed in on NVAX. Jefferies Financial Group decreased their price objective on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. B. Riley reaffirmed a “buy” rating and issued 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. upped their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th.

Novavax Trading Down 2.9 %

Shares of NVAX opened at $8.91 on Monday. The business’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $12.26. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.83). The company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $458.57 million. Novavax’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Equities analysts expect that Novavax will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Institutional investors have recently bought and sold shares of the stock. Sargent Investment Group LLC grew its holdings in Novavax by 32.4% during the third quarter. Sargent Investment Group LLC now owns 40,835 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 10,000 shares during the period. Victory Capital Management Inc. increased its holdings in Novavax by 12.0% in the 3rd quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 2,072 shares in the last quarter. Entropy Technologies LP bought a new stake in Novavax during the 3rd quarter worth approximately $158,000. Los Angeles Capital Management LLC purchased a new position in Novavax during the third quarter valued at approximately $368,000. Finally, US Bancorp DE boosted its position in shares of Novavax by 3,538.8% in the third quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 11,961 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.