Novavax, Inc. (NASDAQ:NVAX) Receives Average Rating of “Hold” from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have been given an average rating of “Hold” by the five research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.80.

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. Bank of America increased their target price on shares of Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday, June 14th. Finally, B. Riley restated a “buy” rating and set a $23.00 price target (down from $25.00) on shares of Novavax in a research report on Monday, August 12th.

Novavax Stock Up 3.1 %

Novavax stock opened at $12.91 on Friday. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -4.07 and a beta of 2.04. The firm has a 50-day moving average price of $13.01 and a two-hundred day moving average price of $10.69.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. During the same period in the previous year, the company posted $0.58 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts expect that Novavax will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Novavax

Several large investors have recently made changes to their positions in NVAX. Swedbank AB acquired a new stake in Novavax during the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise lifted its position in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,500 shares during the last quarter. Herr Investment Group LLC acquired a new stake in shares of Novavax during the 1st quarter valued at $48,000. Alpine Global Management LLC bought a new stake in shares of Novavax during the 1st quarter worth $49,000. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,711 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.