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

Shares of Novavax, Inc. (NASDAQ:NVAX) have received a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.00.

Several equities analysts have recently issued reports on the company. Zacks Research raised Novavax from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. BTIG Research reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Thursday, June 11th. Weiss Ratings lowered shares of Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. TD Cowen lifted their target price on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Edgestream Partners L.P. purchased a new stake in shares of Novavax during the first quarter valued at $4,234,000. California State Teachers Retirement System raised its position in Novavax by 39.9% in the 1st quarter. California State Teachers Retirement System now owns 186,638 shares of the biopharmaceutical company’s stock worth $1,519,000 after buying an additional 53,234 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Novavax by 53.4% during the 1st quarter. Quantinno Capital Management LP now owns 35,359 shares of the biopharmaceutical company’s stock valued at $288,000 after acquiring an additional 12,304 shares during the period. Renaissance Technologies LLC bought a new position in Novavax during the 1st quarter valued at about $4,049,000. Finally, Caxton Associates LLP purchased a new stake in shares of Novavax during the 1st quarter valued at about $90,000. 53.04% of the stock is owned by institutional investors.

Novavax Stock Up 2.4%

NVAX stock opened at $8.07 on Wednesday. Novavax has a twelve month low of $6.20 and a twelve month high of $11.97. The firm has a market cap of $1.33 billion, a PE ratio of -13.91 and a beta of 2.43. The business has a 50 day moving average of $9.25 and a 200 day moving average of $8.99.

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