Novavax’s (NVAX) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Novavax (NASDAQ:NVAX) in a research report report published on Tuesday,Benzinga reports. They currently have a $19.00 price target on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. TD Cowen cut their price target on Novavax from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. HC Wainwright increased their price target on Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. B. Riley reissued a “buy” rating and set a $16.00 price objective (down from $18.00) on shares of Novavax in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Novavax in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.25.

Novavax Stock Down 1.5%

Shares of NVAX opened at $9.75 on Tuesday. The company’s 50-day simple moving average is $7.11 and its 200-day simple moving average is $7.70. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.24 and a current ratio of 2.27. Novavax has a 1 year low of $5.01 and a 1 year high of $10.64. The stock has a market capitalization of $1.58 billion, a PE ratio of 5.45 and a beta of 2.37.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.17). The business had revenue of $70.45 million for the quarter, compared to analysts’ expectations of $55.63 million. Novavax had a negative return on equity of 217.02% and a net margin of 32.10%.Novavax’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.76) earnings per share. Analysts forecast that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Hedge funds have recently made changes to their positions in the business. Shah Capital Management boosted its holdings in shares of Novavax by 23.3% in the 4th quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock worth $97,835,000 after buying an additional 2,747,000 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Novavax by 162.6% in the third quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock valued at $12,222,000 after acquiring an additional 872,987 shares during the last quarter. Farallon Capital Management LLC grew its position in shares of Novavax by 4,775.0% during the 3rd quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock valued at $6,763,000 after acquiring an additional 764,000 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Novavax by 195.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 880,410 shares of the biopharmaceutical company’s stock worth $5,547,000 after purchasing an additional 582,858 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Novavax in the 3rd quarter worth approximately $3,874,000. 53.04% of the stock is currently owned by institutional investors.

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.