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

Novavax, Inc. (NASDAQ:NVAX) has received an average rating of “Hold” from the nine research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.25.

A number of research firms have commented on NVAX. Wall Street Zen downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. B. Riley restated a “buy” rating and issued a $16.00 target price (down previously from $18.00) on shares of Novavax in a research note on Monday, November 10th. Bank of America reaffirmed an “underperform” rating and set a $7.00 price target (down previously from $9.00) on shares of Novavax in a research report on Wednesday, August 20th. Cantor Fitzgerald assumed coverage on Novavax in a research note on Friday, October 24th. They issued an “overweight” rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $6.78 on Tuesday. The company has a quick ratio of 2.24, a current ratio of 2.27 and a debt-to-equity ratio of 5.93. Novavax has a fifty-two week low of $5.01 and a fifty-two week high of $11.55. The business has a 50 day moving average price of $7.81 and a two-hundred day moving average price of $7.61. The firm has a market cap of $1.10 billion, a PE ratio of 3.79 and a beta of 2.31.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing the consensus estimate of ($1.08) by ($0.17). The business had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $55.63 million. Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.76) earnings per share. Sell-side analysts expect that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently made changes to their positions in NVAX. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Novavax by 11.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 1,268 shares during the last quarter. Legal & General Group Plc raised its holdings in Novavax by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock worth $1,350,000 after buying an additional 1,529 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Novavax by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 1,718 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Novavax by 5.5% in the second quarter. SBI Securities Co. Ltd. now owns 34,095 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 1,766 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Novavax by 9.0% in the second quarter. E Fund Management Co. Ltd. now owns 28,280 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 2,326 shares during the period. 53.04% of the stock is owned by institutional investors and hedge funds.

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.