Novavax’s (NVAX) “Outperform” Rating Reaffirmed at FBR & Co
Novavax Inc. (NASDAQ:NVAX)‘s stock had its “outperform” rating reissued by investment analysts at FBR & Co in a note issued to investors on Monday. They presently have a $12.00 target price on the biopharmaceutical company’s stock.
NVAX has been the subject of several other reports. Chardan Capital reduced their price target on Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, September 20th. Vetr upgraded Novavax from a “buy” rating to a “strong-buy” rating and set a $8.66 price target for the company in a report on Tuesday, August 23rd. Piper Jaffray Cos. lowered Novavax from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $1.00 in a report on Friday, September 16th. Guggenheim reiterated a “buy” rating and set a $25.00 price target on shares of Novavax in a report on Monday, August 29th. Finally, Citigroup Inc. lowered Novavax from a “buy” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $1.50 in a report on Friday, September 16th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $7.06.
Novavax (NASDAQ:NVAX) traded up 3.89% during trading on Monday, hitting $1.87. The stock had a trading volume of 4,597,902 shares. The firm’s market cap is $506.46 million. The company’s 50-day moving average is $4.89 and its 200 day moving average is $5.90. Novavax has a 52 week low of $1.16 and a 52 week high of $9.23.
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Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm’s quarterly revenue was down 82.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Equities analysts expect that Novavax will post ($1.09) EPS for the current fiscal year.
In other Novavax news, Director Gail Boudreaux purchased 100,000 shares of the company’s stock in a transaction on Tuesday, September 20th. The shares were bought at an average cost of $1.45 per share, with a total value of $145,000.00. Following the transaction, the director now directly owns 200,000 shares in the company, valued at approximately $290,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael A. Mcmanus, Jr. purchased 30,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was acquired at an average cost of $1.61 per share, for a total transaction of $48,300.00. Following the completion of the transaction, the director now owns 247,590 shares in the company, valued at $398,619.90. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NVAX. Northpointe Capital LLC increased its position in shares of Novavax by 47.2% in the second quarter. Northpointe Capital LLC now owns 2,124,035 shares of the biopharmaceutical company’s stock valued at $15,442,000 after buying an additional 681,133 shares in the last quarter. State Street Corp boosted its stake in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Wellington Management Group LLP boosted its stake in Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares in the last quarter. Bellevue Group AG purchased a new stake in Novavax during the first quarter worth about $1,677,000. Finally, DIAM Co. Ltd. boosted its stake in Novavax by 2.6% in the second quarter. DIAM Co. Ltd. now owns 646,515 shares of the biopharmaceutical company’s stock worth $4,635,000 after buying an additional 16,660 shares in the last quarter. 79.84% of the stock is currently owned by institutional investors.
Novavax Company Profile
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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