Novavax (NASDAQ:NVAX) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Novavax (NASDAQ:NVAX – Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Several other research analysts also recently commented on the stock. HC Wainwright raised their price target on shares of Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price target (down from $18.00) on shares of Novavax in a report on Monday, November 10th. TD Cowen cut their price objective on Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. BTIG Research reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, November 18th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.88.

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Novavax Stock Down 0.3%

Novavax stock opened at $10.11 on Friday. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 4.20 and a beta of 2.54. The firm has a 50 day simple moving average of $8.40 and a 200 day simple moving average of $8.03. Novavax has a 1-year low of $5.01 and a 1-year high of $11.97. The company has a current ratio of 2.13, a quick ratio of 2.10 and a debt-to-equity ratio of 5.93.

Novavax (NASDAQ:NVAX – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.77. The company had revenue of $136.40 million during the quarter, compared to analysts’ expectations of $90.26 million. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The firm’s quarterly revenue was up 66.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) earnings per share. On average, analysts predict that Novavax will post -1.46 earnings per share for the current year.

Institutional Trading of Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of Novavax by 12.9% in the fourth quarter. Invesco Ltd. now owns 259,380 shares of the biopharmaceutical company’s stock worth $1,743,000 after purchasing an additional 29,704 shares during the last quarter. VARCOV Co. purchased a new position in shares of Novavax in the fourth quarter valued at about $263,000. Virtus Investment Advisers LLC boosted its holdings in shares of Novavax by 67.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 104,019 shares of the biopharmaceutical company’s stock worth $699,000 after purchasing an additional 41,866 shares during the period. Oxford Asset Management LLP bought a new stake in shares of Novavax in the fourth quarter worth about $145,000. Finally, Man Group plc purchased a new position in Novavax during the 4th quarter valued at about $290,000. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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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.

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