Novavax (NASDAQ:NVAX) Now Covered by Citigroup

Citigroup initiated coverage on shares of Novavax (NASDAQ:NVAX) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued a sell rating and a $6.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Friday, May 9th. BTIG Research started coverage on shares of Novavax in a research report on Friday, February 28th. They set a “buy” rating and a $19.00 target price on the stock. B. Riley reissued a “buy” rating on shares of Novavax in a research report on Monday, May 19th. Finally, TD Cowen raised shares of Novavax to a “hold” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and an average price target of $17.00.

Novavax Stock Performance

Novavax stock opened at $6.49 on Tuesday. Novavax has a 1 year low of $5.01 and a 1 year high of $17.81. The firm has a 50 day moving average price of $6.72 and a 200 day moving average price of $7.68. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 2.45, a PEG ratio of 0.08 and a beta of 2.80.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $2.22. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. The company had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. During the same period in the previous year, the firm earned ($1.05) earnings per share. Novavax’s revenue for the quarter was up 610.3% on a year-over-year basis. Sell-side analysts predict that Novavax will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Novavax

Several institutional investors have recently modified their holdings of the company. E Fund Management Co. Ltd. lifted its position in Novavax by 5.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock valued at $204,000 after purchasing an additional 1,219 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Novavax by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock valued at $3,509,000 after purchasing an additional 1,664 shares during the last quarter. Federated Hermes Inc. lifted its position in Novavax by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 2,124 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Novavax by 16.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,287 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Novavax by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock valued at $678,000 after purchasing an additional 2,750 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.