Novavax (NASDAQ:NVAX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Novavax (NASDAQ:NVAX) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novavax in a research report on Monday, December 29th. TD Cowen cut their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. HC Wainwright lifted their price target on Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. reduced their price target on Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th. Finally, BTIG Research reissued a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Tuesday, January 20th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.25.

Novavax Trading Down 5.9%

Shares of NVAX stock opened at $9.17 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.27 and a quick ratio of 2.24. The firm has a fifty day moving average price of $7.16 and a 200-day moving average price of $7.73. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 5.12 and a beta of 2.37. Novavax has a 1 year low of $5.01 and a 1 year high of $10.64.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by ($0.17). The business had revenue of $70.45 million for the quarter, compared to the consensus estimate of $55.63 million. Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the business posted ($0.76) EPS. As a group, equities analysts predict that Novavax will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

Several institutional investors have recently added to or reduced their stakes in NVAX. Shah Capital Management grew its holdings in shares of Novavax by 23.3% during the fourth quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after purchasing an additional 2,747,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Novavax by 0.5% in the 3rd quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock valued at $26,886,000 after purchasing an additional 15,685 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Novavax by 162.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock valued at $12,222,000 after purchasing an additional 872,987 shares in the last quarter. TSP Capital Management Group LLC boosted its stake in shares of Novavax by 3.5% during the 2nd quarter. TSP Capital Management Group LLC now owns 1,399,065 shares of the biopharmaceutical company’s stock worth $8,814,000 after acquiring an additional 46,900 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Novavax by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 976,388 shares of the biopharmaceutical company’s stock worth $6,561,000 after purchasing an additional 57,705 shares in the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.