Novavax (NASDAQ:NVAX) Given “Buy” Rating at B. Riley

B. Riley restated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research report report published on Monday, Benzinga reports. B. Riley currently has a $23.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $25.00.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an underweight rating in a research report on Monday. Bank of America boosted their target price on Novavax from $12.00 to $18.00 and gave the stock a neutral rating in a research report on Friday, June 14th. HC Wainwright reaffirmed a buy rating and issued a $19.00 price objective on shares of Novavax in a research note on Monday, May 13th. Finally, TD Cowen increased their target price on Novavax from $5.00 to $10.00 and gave the company a hold rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $15.80.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $11.85 on Monday. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The firm has a fifty day moving average price of $14.26 and a 200-day moving average price of $9.05. The stock has a market cap of $1.66 billion, a PE ratio of -3.74 and a beta of 1.99.

Novavax (NASDAQ:NVAX) last announced 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 firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. During the same quarter last year, the firm earned $0.58 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts expect that Novavax will post 0.46 EPS for the current year.

Insiders Place Their Bets

In related news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $14.09, for a total transaction of $105,675.00. Following the completion of the sale, the director now directly owns 61,760 shares of the company’s stock, valued at approximately $870,198.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Trading of Novavax

Large investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Novavax in the first quarter valued at about $1,499,000. Shah Capital Management lifted its holdings in Novavax by 22.9% during the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after buying an additional 1,450,000 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 2,447 shares during the period. ProShare Advisors LLC raised its position in shares of Novavax by 29.9% in the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 8,570 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Novavax by 17.1% during the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after purchasing an additional 30,800 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.