Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Average PT from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.83.

Several analysts recently weighed in on NVAX shares. HC Wainwright reiterated a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. Jefferies Financial Group cut their price target on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, B. Riley reissued 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.

Insider Transactions at Novavax

In other Novavax news, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the sale, the director now directly owns 14,770 shares in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James F. Young sold 4,600 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total transaction of $39,008.00. Following the transaction, the director now owns 57,160 shares of the company’s stock, valued at approximately $484,716.80. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,150 shares of company stock valued at $119,641. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Novavax

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in shares of Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 1,598 shares during the period. US Bancorp DE lifted its stake in Novavax by 3,538.8% during the third quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 11,961 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Novavax in the third quarter worth about $158,000. Finally, Algert Global LLC purchased a new position in shares of Novavax in the second quarter worth approximately $161,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Trading Down 1.5 %

NASDAQ:NVAX opened at $8.40 on Friday. The stock has a 50 day moving average of $8.62 and a 200-day moving average of $10.99. The firm has a market capitalization of $1.35 billion, a PE ratio of -3.72 and a beta of 2.07. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $65.80 million. Novavax’s quarterly revenue was down 54.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.26) earnings per share. As a group, analysts predict that Novavax will post -1.31 EPS for the current fiscal year.

Novavax Company Profile

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.