Novavax (NASDAQ:NVAX) Trading Up 10.1% – Time to Buy?

Shares of Novavax, Inc. (NASDAQ:NVAX) were up 10.1% on Friday . The company traded as high as $9.29 and last traded at $9.14. Approximately 1,504,325 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 9,437,857 shares. The stock had previously closed at $8.30.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVAX shares. JPMorgan Chase & Co. raised their price objective on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Tuesday, November 12th. Jefferies Financial Group reduced their price target on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Novavax currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Up 11.2 %

The stock has a fifty day moving average of $10.07 and a 200-day moving average of $12.43. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.04 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. During the same quarter last year, the company earned ($1.26) EPS. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. On average, equities analysts forecast that Novavax, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several large investors have recently modified their holdings of NVAX. Banque Cantonale Vaudoise grew its holdings in Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the period. Amalgamated Bank grew its holdings in Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,036 shares during the period. Signaturefd LLC grew its holdings in Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 3,874 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Midland Wealth Advisors LLC acquired a new stake in Novavax in the second quarter valued at $152,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

About Novavax

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.