Novavax (NASDAQ:NVAX) Stock Rating Upgraded by Wall Street Zen

Novavax (NASDAQ:NVAX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts have also commented on NVAX. TD Cowen cut their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. HC Wainwright raised their price objective on Novavax from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. B. Riley reiterated a “buy” rating and set a $16.00 target price (down previously from $18.00) on shares of Novavax in a research report on Monday, November 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novavax in a research report on Monday, December 29th. Finally, Cantor Fitzgerald started coverage on Novavax in a research note on Friday, October 24th. They set an “overweight” rating and a $18.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Novavax has a consensus rating of “Hold” and a consensus target price of $11.25.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $9.17 on Friday. The stock’s 50-day simple moving average is $7.16 and its 200-day simple moving average is $7.72. The firm has a market capitalization of $1.49 billion, a PE ratio of 5.12 and a beta of 2.37. Novavax has a fifty-two week low of $5.01 and a fifty-two week high of $10.64. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.24 and a current ratio of 2.27.

Novavax (NASDAQ:NVAX) last announced its quarterly 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). Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The company had revenue of $70.45 million during the quarter, compared to analysts’ expectations of $55.63 million. During the same quarter in the prior year, the company earned ($0.76) earnings per share. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, equities research analysts forecast that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Trading of Novavax

A number of hedge funds have recently added to or reduced their stakes in NVAX. Quarry LP acquired a new position in shares of Novavax in the third quarter valued at approximately $33,000. Flagship Harbor Advisors LLC purchased a new position in Novavax in the 4th quarter valued at $33,000. Danske Bank A S acquired a new position in Novavax in the 3rd quarter valued at $64,000. State of Wyoming purchased a new position in Novavax during the 2nd quarter worth $52,000. Finally, Signaturefd LLC raised its position in Novavax by 47.2% during the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 3,122 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.