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

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

A number of analysts have commented on the company. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. B. Riley restated a “buy” rating and issued a $16.00 target price (down previously from $18.00) on shares of Novavax in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novavax in a report on Monday, December 29th. Cantor Fitzgerald started coverage on Novavax in a research report on Friday, October 24th. They issued an “overweight” rating and a $18.00 price target for the company. Finally, TD Cowen cut their price objective on shares of Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th.

Novavax Stock Performance

Shares of NVAX stock opened at $9.82 on Wednesday. The firm has a market capitalization of $1.60 billion, a PE ratio of 5.49 and a beta of 2.37. The firm has a fifty day simple moving average of $7.28 and a two-hundred day simple moving average of $7.77. The company has a current ratio of 2.27, a quick ratio of 2.24 and a debt-to-equity ratio of 5.93. Novavax has a 12 month low of $5.01 and a 12 month high of $10.64.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The business had revenue of $70.45 million for the quarter, compared to analyst estimates of $55.63 million. During the same quarter in the prior year, the business earned ($0.76) earnings per share. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. Analysts forecast that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Flagship Harbor Advisors LLC bought a new position in shares of Novavax during the 4th quarter worth approximately $33,000. Quarry LP bought a new position in shares of Novavax in the third quarter valued at approximately $33,000. State of Wyoming purchased a new stake in shares of Novavax during the second quarter valued at approximately $52,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Novavax by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 1,617 shares during the period. Finally, Signaturefd LLC lifted its holdings in Novavax by 47.2% during the second quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 3,122 shares during the period. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

About Novavax

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.