Novavax, Inc. (NASDAQ:NVAX) Given Consensus Rating of “Hold” by Analysts

Novavax, Inc. (NASDAQ:NVAX) has received an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.00.

A number of analysts have recently weighed in on the company. Weiss Ratings lowered Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. B. Riley Financial reissued a “buy” rating on shares of Novavax in a report on Thursday, April 9th. HC Wainwright increased their price objective on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, TD Cowen increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th.

Institutional Investors Weigh In On Novavax

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Novavax by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock valued at $103,961,000 after purchasing an additional 275,802 shares during the last quarter. Shah Capital Management boosted its stake in shares of Novavax by 2.0% in the 1st quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company’s stock valued at $120,839,000 after purchasing an additional 286,317 shares during the last quarter. State Street Corp boosted its stake in shares of Novavax by 32.3% in the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after purchasing an additional 2,326,927 shares during the last quarter. UBS Group AG boosted its holdings in Novavax by 40.3% during the fourth quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after buying an additional 1,405,981 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Novavax by 0.5% during the third quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after buying an additional 15,685 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Price Performance

Novavax stock opened at $8.88 on Friday. The stock has a fifty day moving average price of $9.14 and a two-hundred day moving average price of $8.70. Novavax has a 52-week low of $6.20 and a 52-week high of $11.97. The firm has a market capitalization of $1.46 billion, a P/E ratio of -15.31 and a beta of 2.45.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.Novavax’s revenue for the quarter was down 79.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS. On average, equities research analysts predict that Novavax will post -0.19 EPS for the current fiscal year.

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.