Novavax, Inc. (NASDAQ:NVAX) Stock Rating Reaffirmed by Cantor Fitzgerald
Novavax, Inc. (NASDAQ:NVAX)‘s stock had its “hold” rating reissued by research analysts at Cantor Fitzgerald in a report released on Friday. They presently have a $2.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 32.45% from the stock’s current price.
The analysts wrote, “Important RSV vaccine data to be released next Monday. NVAX plans to host a conference call on Monday, July 24, at 4:30pm EDT, on which top-line data from the E-205 Phase 2 clinical trial of the RSV vaccine candidate in older adults will be discussed. The company’s press release notes that an update of the ongoing pivotal Prepare trial of the vaccine candidate in pregnant women will also be provided. Of the two programs, we believe the former is likely to be the greater value creator and, if the data are encouraging, could provide a catalyst for renewed investor interest in the stock.””
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Novavax from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Saturday, June 10th. BidaskClub lowered shares of Novavax from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, ValuEngine lowered shares of Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.56.
Novavax (NASDAQ NVAX) opened at 1.51 on Friday. The company’s market cap is $426.72 million. Novavax has a 12 month low of $0.73 and a 12 month high of $8.49. The company’s 50 day moving average is $1.15 and its 200-day moving average is $1.18.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $5.68 million during the quarter, compared to analyst estimates of $6.17 million. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The firm’s revenue was up 34.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.29) EPS. On average, analysts expect that Novavax will post ($0.61) earnings per share for the current fiscal year.
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In other Novavax news, insider Stanley C. Erck bought 50,000 shares of the stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $0.84 per share, with a total value of $42,000.00. Following the purchase, the insider now directly owns 128,279 shares in the company, valued at approximately $107,754.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 105,000 shares of company stock worth $90,800. 4.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in NVAX. State Street Corp boosted its stake in shares of Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock valued at $25,163,000 after buying an additional 9,947,481 shares during the period. Norges Bank acquired a new stake in shares of Novavax during the fourth quarter valued at about $3,300,000. JPMorgan Chase & Co. boosted its stake in shares of Novavax by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock valued at $4,746,000 after buying an additional 1,095,388 shares during the period. Vanguard Group Inc. boosted its stake in shares of Novavax by 4.5% in the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock valued at $27,752,000 after buying an additional 938,581 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Novavax during the fourth quarter valued at about $544,000. 49.98% of the stock is currently owned by institutional investors.
Novavax, Inc 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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