Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Consensus Price Target from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.83.

A number of research firms have commented on NVAX. HC Wainwright reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, Jefferies Financial Group dropped their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th.

Novavax Stock Down 4.2 %

Shares of Novavax stock opened at $7.93 on Tuesday. The company has a market cap of $1.27 billion, a P/E ratio of -3.51 and a beta of 2.02. The firm’s 50 day moving average price is $8.82 and its 200-day moving average price is $11.47. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the prior year, the firm posted ($1.26) earnings per share. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year. As a group, equities research analysts forecast that Novavax will post -1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of NVAX. Shah Capital Management lifted its stake in Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after acquiring an additional 1,544,263 shares during the period. State Street Corp lifted its position in Novavax by 26.7% during the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after purchasing an additional 1,621,772 shares during the period. Geode Capital Management LLC boosted its holdings in Novavax by 9.5% in the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock valued at $44,245,000 after purchasing an additional 304,159 shares during the last quarter. Bank of Montreal Can grew its position in Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock worth $32,643,000 after purchasing an additional 517,727 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of Novavax by 48.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after buying an additional 656,900 shares during the last quarter. Institutional investors and hedge funds 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.