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

Novavax, Inc. (NASDAQ:NVAX) has received an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $14.2857.

NVAX has been the subject of a number of research analyst reports. B. Riley restated a “buy” rating on shares of Novavax in a report on Monday, May 19th. Bank of America reissued an “underperform” rating and issued a $7.00 target price (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. HC Wainwright began coverage on shares of Novavax in a research note on Thursday. They issued a “buy” rating and a $10.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. Finally, Citigroup began coverage on shares of Novavax in a research note on Tuesday, June 17th. They issued a “sell” rating and a $6.00 target price on the stock.

Hedge Funds Weigh In On Novavax

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG raised its stake in shares of Novavax by 47.5% in the 4th quarter. Deutsche Bank AG now owns 123,581 shares of the biopharmaceutical company’s stock valued at $994,000 after acquiring an additional 39,787 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Novavax by 10.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 101,812 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 9,711 shares during the period. California State Teachers Retirement System increased its stake in Novavax by 12.3% during the 4th quarter. California State Teachers Retirement System now owns 135,486 shares of the biopharmaceutical company’s stock worth $1,089,000 after buying an additional 14,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Novavax by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 268,684 shares of the biopharmaceutical company’s stock worth $2,160,000 after buying an additional 44,359 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Novavax by 44.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 27,283 shares of the biopharmaceutical company’s stock worth $219,000 after buying an additional 8,454 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Trading Down 1.5%

NVAX stock opened at $7.47 on Friday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 3.28, a PEG ratio of 0.10 and a beta of 2.50. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The business has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $7.17. Novavax has a 52 week low of $5.01 and a 52 week high of $15.22.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.69. The business had revenue of $239.24 million during the quarter, compared to the consensus estimate of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The business’s revenue for the quarter was down 42.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. On average, equities research analysts expect that Novavax will post -1.46 EPS for the current year.

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.