Novavax (NASDAQ:NVAX) Given “Buy” Rating at HC Wainwright

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $19.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 144.69% from the stock’s current price.

Several other research analysts have also commented on the stock. Jefferies Financial Group cut their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. Finally, B. Riley restated a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Down 8.2 %

NVAX stock opened at $7.77 on Tuesday. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.44 and a beta of 2.10. The business has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $12.41. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.11. The firm had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. The business’s revenue was down 54.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.26) earnings per share. As a group, analysts expect that Novavax will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of Novavax

A number of hedge funds have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in shares of Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Novavax by 3.0% during the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock valued at $568,000 after acquiring an additional 1,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,598 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Novavax by 23.7% in the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 2,447 shares during the last quarter. 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.