Novavax (NASDAQ:NVAX) Coverage Initiated by Analysts at BTIG Research

BTIG Research assumed coverage on shares of Novavax (NASDAQ:NVAX) in a report issued on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $19.00 price objective on the biopharmaceutical company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.00.

Novavax Stock Up 18.0 %

NASDAQ:NVAX opened at $8.33 on Friday. The company has a market capitalization of $1.33 billion, a PE ratio of -3.69, a price-to-earnings-growth ratio of 2.85 and a beta of 2.14. Novavax has a 52-week low of $3.81 and a 52-week high of $23.86. The stock has a fifty day simple moving average of $8.52 and a 200-day simple moving average of $10.00.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million for the quarter, compared to analyst estimates of $85.48 million. During the same period last year, the firm earned ($1.44) EPS. As a group, equities analysts anticipate that Novavax will post -1.46 earnings per share for the current year.

Insider Buying and Selling at Novavax

In other Novavax news, Director James F. Young sold 5,400 shares of Novavax stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total value of $43,200.00. Following the completion of the sale, the director now owns 51,760 shares in the company, valued at $414,080. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rachel K. King sold 4,150 shares of Novavax stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the sale, the director now owns 14,770 shares of the company’s stock, valued at $133,225.40. This trade represents a 21.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,150 shares of company stock worth $119,641 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Trading of Novavax

A number of institutional investors have recently modified their holdings of NVAX. GF Fund Management CO. LTD. purchased a new stake in shares of Novavax during the 4th quarter worth about $27,000. Spire Wealth Management purchased a new stake in shares of Novavax during the 4th quarter worth about $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Novavax during the 4th quarter worth about $35,000. KBC Group NV grew its holdings in shares of Novavax by 97.0% during the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 3,917 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.