B. Riley Lowers Novavax (NASDAQ:NVAX) Price Target to $181.00

Novavax (NASDAQ:NVAX – Get Rating) had its price target reduced by analysts at B. Riley from $203.00 to $181.00 in a report issued on Wednesday, The Fly reports. B. Riley’s price target points to a potential upside of 248.48% from the stock’s current price.

A number of other equities analysts have also recently weighed in on NVAX. HC Wainwright decreased their price objective on Novavax from $294.00 to $207.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Cowen started coverage on Novavax in a report on Friday, January 21st. They set an “outperform” rating and a $150.00 price objective on the stock. StockNews.com started coverage on Novavax in a report on Thursday, March 31st. They set a “hold” rating on the stock. Cantor Fitzgerald decreased their price objective on Novavax from $282.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, February 14th. Finally, Jefferies Financial Group started coverage on Novavax in a report on Tuesday, February 22nd. They set a “buy” rating and a $198.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Novavax currently has an average rating of “Buy” and a consensus price target of $195.00.

NASDAQ:NVAX opened at $51.94 on Wednesday. The business’s 50-day moving average price is $65.48 and its two-hundred day moving average price is $113.12. Novavax has a twelve month low of $41.74 and a twelve month high of $277.80. The stock has a market cap of $4.06 billion, a P/E ratio of -2.23 and a beta of 1.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.70.

Novavax (NASDAQ:NVAX – Get Rating) last released its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, missing the consensus estimate of $2.69 by ($0.13). The business had revenue of $703.97 million during the quarter, compared to analysts’ expectations of $845.20 million. Novavax had a negative net margin of 152.12% and a negative return on equity of 368.20%. The business’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the business earned ($3.05) EPS. On average, equities research analysts expect that Novavax will post 22.88 EPS for the current fiscal year.

In other Novavax news, Director James F. Young sold 12,500 shares of Novavax stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $73.58, for a total value of $919,750.00. Following the transaction, the director now directly owns 62,590 shares of the company’s stock, valued at approximately $4,605,372.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Spire Wealth Management grew its position in shares of Novavax by 186.7% in the 4th quarter. Spire Wealth Management now owns 172 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 112 shares during the last quarter. Selective Wealth Management Inc. purchased a new stake in Novavax in the fourth quarter worth $29,000. DB Wealth Management Group LLC purchased a new stake in Novavax in the fourth quarter worth $29,000. San Luis Wealth Advisors LLC purchased a new stake in Novavax in the first quarter worth $29,000. Finally, TCI Wealth Advisors Inc. grew its stake in Novavax by 115.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 289 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 43.91% of the company’s stock.

Novavax Company Profile (Get Rating)

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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