S&P Equity Research Trims Novavax Inc. (NVAX) Target Price to $1.17
Other research analysts have also recently issued research reports about the stock. Vetr cut shares of Novavax from a strong-buy rating to a buy rating and set a $7.77 price objective for the company. in a report on Monday, July 25th. Citigroup Inc. lifted their price objective on shares of Novavax from $10.00 to $12.00 and gave the company a buy rating in a report on Thursday, July 28th. FBR & Co set a $17.00 price objective on shares of Novavax and gave the company a buy rating in a report on Thursday, August 11th. Guggenheim reissued a buy rating and set a $25.00 target price on shares of Novavax in a research note on Monday, August 29th. Finally, Zacks Investment Research raised shares of Novavax from a sell rating to a hold rating in a research note on Friday, June 10th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Novavax presently has an average rating of Hold and a consensus price target of $7.06.
Shares of Novavax (NASDAQ:NVAX) opened at 1.46 on Friday. The company has a 50-day moving average of $6.84 and a 200-day moving average of $6.19. Novavax has a 52-week low of $1.16 and a 52-week high of $9.88. The stock’s market capitalization is $395.42 million.
Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.04. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm earned $2.50 million during the quarter, compared to analysts’ expectations of $8.03 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was down 82.1% on a year-over-year basis. Equities research analysts anticipate that Novavax will post ($1.09) EPS for the current year.
Several institutional investors have recently modified their holdings of NVAX. Vanguard Group Inc. raised its position in shares of Novavax by 7.5% in the second quarter. Vanguard Group Inc. now owns 19,935,014 shares of the biopharmaceutical company’s stock valued at $144,928,000 after buying an additional 1,385,637 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock valued at $65,593,000 after buying an additional 3,849,585 shares in the last quarter. State Street Corp raised its position in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock valued at $63,579,000 after buying an additional 3,527,714 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Novavax by 1.7% in the first quarter. BlackRock Fund Advisors now owns 10,143,371 shares of the biopharmaceutical company’s stock valued at $52,340,000 after buying an additional 165,145 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in shares of Novavax by 40.3% in the second quarter. Janus Capital Management LLC now owns 7,441,710 shares of the biopharmaceutical company’s stock valued at $54,100,000 after buying an additional 2,136,258 shares in the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
Novavax, Inc (Novavax) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company through its recombinant nanoparticle vaccine technology produces vaccine candidates to respond to both known and newly emerging diseases.
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