Novavax, Inc. (NASDAQ:NVAX) Receives $11.88 Average Target Price from Analysts
by Tristan Rich · The Markets DailyShares of Novavax, Inc. (NASDAQ:NVAX – Get Free Report) have received an average recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.8750.
A number of analysts recently issued reports on the stock. HC Wainwright increased their target price on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. BTIG Research reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, January 20th. Weiss Ratings upgraded shares of Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 12th. Jefferies Financial Group reissued a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.
Read Our Latest Stock Report on Novavax
Novavax Price Performance
NVAX stock opened at $9.34 on Thursday. The company has a market cap of $1.52 billion, a PE ratio of 3.88 and a beta of 2.54. The company has a current ratio of 2.13, a quick ratio of 2.10 and a debt-to-equity ratio of 5.93. The stock has a 50-day moving average price of $9.35 and a two-hundred day moving average price of $8.26. Novavax has a 12-month low of $5.01 and a 12-month high of $11.97.
Novavax (NASDAQ:NVAX – Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.77. The company had revenue of $136.40 million for the quarter, compared to the consensus estimate of $90.26 million. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The company’s quarterly revenue was up 66.6% compared to the same quarter last year. During the same period last year, the business posted ($0.51) EPS. As a group, research analysts predict that Novavax will post -1.46 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Novavax by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after purchasing an additional 275,802 shares in the last quarter. Shah Capital Management grew its stake in shares of Novavax by 23.3% in the fourth quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock valued at $97,835,000 after buying an additional 2,747,000 shares in the last quarter. State Street Corp raised its holdings in shares of Novavax by 32.3% during the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after buying an additional 2,326,927 shares during the period. UBS Group AG raised its holdings in shares of Novavax by 40.3% during the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock valued at $32,890,000 after buying an additional 1,405,981 shares during the period. Finally, Bank of America Corp DE lifted its position in Novavax by 0.5% during the 3rd quarter. Bank of America Corp DE now owns 3,101,074 shares of the biopharmaceutical company’s stock worth $26,886,000 after acquiring an additional 15,685 shares in the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.
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.