Novavax, Inc. (NASDAQ:NVAX) Given Consensus Rating of “Hold” by Analysts

Shares of Novavax, Inc. (NASDAQ:NVAXGet Rating) have received an average rating of “Hold” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $175.00.

Several equities research analysts have issued reports on NVAX shares. 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. Bank of America began coverage on Novavax in a report on Friday. They issued an “underperform” rating and a $35.00 price target for the company. StockNews.com began coverage on Novavax in a report on Thursday, March 31st. They issued a “hold” rating for the company. HC Wainwright lowered their price target on Novavax from $294.00 to $207.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. Finally, B. Riley lowered their price target on Novavax from $203.00 to $181.00 in a report on Wednesday, May 11th.

NVAX stock traded down $5.22 during midday trading on Friday, hitting $53.21. 182,547 shares of the company’s stock were exchanged, compared to its average volume of 5,791,291. Novavax has a 12-month low of $41.33 and a 12-month high of $277.80. The firm has a 50 day moving average price of $62.05 and a 200-day moving average price of $108.65. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -2.97 and a beta of 1.59.

Novavax (NASDAQ:NVAXGet Rating) last posted its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.77). Novavax had a negative return on equity of 572.54% and a negative net margin of 93.91%. The business had revenue of $703.97 million for the quarter, compared to analysts’ expectations of $845.20 million. During the same quarter in the prior year, the firm earned ($3.05) earnings per share. Novavax’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, sell-side analysts forecast that Novavax will post 25.77 earnings per share for the current fiscal year.

In other news, Director James F. Young sold 12,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 62,590 shares in the company, valued at $4,605,372.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in NVAX. Truist Financial Corp raised its position in shares of Novavax by 123.4% during the third quarter. Truist Financial Corp now owns 4,705 shares of the biopharmaceutical company’s stock worth $975,000 after purchasing an additional 2,599 shares during the period. Principal Financial Group Inc. raised its position in Novavax by 89.5% during the third quarter. Principal Financial Group Inc. now owns 46,649 shares of the biopharmaceutical company’s stock valued at $9,671,000 after buying an additional 22,033 shares during the period. Alliancebernstein L.P. raised its position in Novavax by 3.6% during the third quarter. Alliancebernstein L.P. now owns 46,021 shares of the biopharmaceutical company’s stock valued at $9,541,000 after buying an additional 1,593 shares during the period. Rafferty Asset Management LLC raised its position in Novavax by 3.4% during the third quarter. Rafferty Asset Management LLC now owns 12,864 shares of the biopharmaceutical company’s stock valued at $2,667,000 after buying an additional 425 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Novavax by 177.7% during the third quarter. Allianz Asset Management GmbH now owns 137,624 shares of the biopharmaceutical company’s stock valued at $28,532,000 after buying an additional 88,058 shares during the period. 43.91% of the stock is currently owned by institutional investors.

About Novavax (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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