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

Shares of Novavax, Inc. (NASDAQ:NVAX) have earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.8750.

NVAX has been the subject of a number of analyst reports. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright lifted their price target on shares of Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. BTIG Research reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Tuesday, January 20th. Weiss Ratings raised shares of Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 12th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th.

Institutional Trading of Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC lifted its position in shares of Novavax by 11.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 1,268 shares during the last quarter. Legal & General Group Plc grew its position in shares of Novavax by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock valued at $1,350,000 after buying an additional 1,529 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Novavax by 25.8% during the 4th 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in Novavax by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 1,718 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Novavax by 6.4% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 34,663 shares of the biopharmaceutical company’s stock valued at $233,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Stock Down 5.9%

Shares of NASDAQ NVAX opened at $10.01 on Thursday. The stock has a market cap of $1.63 billion, a P/E ratio of 4.15 and a beta of 2.54. The business’s fifty day simple moving average is $9.18 and its 200-day simple moving average is $8.20. Novavax has a 12-month low of $5.01 and a 12-month high of $11.97. The company has a current ratio of 2.13, a quick ratio of 2.10 and a debt-to-equity ratio of 5.93.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.66) by $0.77. The firm had revenue of $136.40 million during the quarter, compared to analysts’ expectations of $90.26 million. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.Novavax’s revenue for the quarter was up 66.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, equities analysts predict that Novavax will post -1.46 EPS for the current fiscal year.

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.