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

Novavax, Inc. (NASDAQ:NVAX) has been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.25.

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, November 18th. TD Cowen dropped their price target on Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. B. Riley Financial reaffirmed a “buy” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Novavax in a report on Monday, November 10th. BTIG Research reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, January 20th. Finally, Wall Street Zen cut Novavax from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st.

Institutional Trading of Novavax

Several large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Novavax during the third quarter valued at approximately $33,000. Flagship Harbor Advisors LLC bought a new stake in shares of Novavax during the 4th quarter valued at $33,000. Danske Bank A S purchased a new stake in shares of Novavax in the 3rd quarter worth $64,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Novavax by 25.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 1,617 shares in the last quarter. Finally, State of Wyoming bought a new position in Novavax in the 2nd quarter worth $52,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Price Performance

Shares of Novavax stock opened at $9.20 on Friday. The company has a current ratio of 2.27, a quick ratio of 2.24 and a debt-to-equity ratio of 5.93. The firm has a market capitalization of $1.50 billion, a PE ratio of 5.14 and a beta of 2.58. The business’s 50-day moving average price is $8.01 and its 200-day moving average price is $7.97. Novavax has a 12 month low of $5.01 and a 12 month high of $10.64.

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.