Novavax, Inc. (NASDAQ:NVAX) Given Consensus Recommendation of “Hold” by Analysts

Novavax, Inc. (NASDAQ:NVAX) has earned an average rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.00.

Several analysts have issued reports on NVAX shares. Zacks Research upgraded shares of Novavax from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. BTIG Research reissued a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th. TD Cowen increased their target price on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Finally, Weiss Ratings cut Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, May 7th.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $7.46 on Wednesday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -12.86 and a beta of 2.43. Novavax has a one year low of $6.20 and a one year high of $11.97. The firm’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $9.00.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The firm had revenue of $118.90 million during the quarter, compared to analyst estimates of $79.81 million. During the same period in the previous year, the business posted $2.93 EPS. The business’s quarterly revenue was down 79.0% on a year-over-year basis. As a group, equities analysts expect that Novavax will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 1,229 shares during the period. Legal & General Group Plc increased its position in shares of Novavax by 1.0% in the third quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock valued at $1,350,000 after acquiring an additional 1,529 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Novavax by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 1,617 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Novavax by 2.3% during 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 raised its stake in shares of Novavax by 6.4% during 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. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

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.