Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Consensus Target Price from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been given an average rating of “Hold” by the six research firms that are covering the firm, MarketBeat reports. One 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 objective among brokerages that have covered the stock in the last year is $17.83.

A number of brokerages have weighed in on NVAX. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group decreased their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th.

Hedge Funds Weigh In On Novavax

Hedge funds and other institutional investors have recently made changes to their positions in the business. Shah Capital Management lifted its holdings in Novavax by 19.0% in the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after buying an additional 1,544,263 shares in the last quarter. State Street Corp lifted its holdings in Novavax by 26.7% in the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Novavax by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after buying an additional 304,159 shares in the last quarter. Bank of Montreal Can lifted its holdings in Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after buying an additional 517,727 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Novavax by 48.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after buying an additional 656,900 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Stock Performance

NVAX stock opened at $8.41 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -3.72 and a beta of 2.02. Novavax has a one year low of $3.53 and a one year high of $23.86. The company has a 50 day moving average price of $10.23 and a two-hundred day moving average price of $12.49.

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