B. Riley Trims Novavax (NASDAQ:NVAX) Target Price to $25.00

Novavax (NASDAQ:NVAX) had its price objective trimmed by B. Riley from $29.00 to $25.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on NVAX. HC Wainwright reiterated a buy rating and set a $19.00 target price on shares of Novavax in a research report on Monday, May 13th. Bank of America boosted their price target on shares of Novavax from $12.00 to $18.00 and gave the stock a neutral rating in a research note on Friday, June 14th. TD Cowen boosted their price target on shares of Novavax from $5.00 to $10.00 and gave the stock a hold rating in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. downgraded shares of Novavax from a neutral rating to an underweight rating and set a $8.00 price target for the company. in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Novavax currently has a consensus rating of Hold and a consensus price target of $16.00.

Novavax Trading Up 1.8 %

NASDAQ NVAX traded up $0.20 on Friday, reaching $11.58. The company’s stock had a trading volume of 2,573,449 shares, compared to its average volume of 11,448,411. The firm has a market cap of $1.63 billion, a PE ratio of -3.59 and a beta of 1.99. The business has a 50-day moving average price of $14.65 and a 200 day moving average price of $8.80. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The business had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $71.32 million. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($3.41) EPS. Analysts anticipate that Novavax will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Novavax

In other Novavax news, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the sale, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James F. Young sold 7,500 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the completion of the sale, the director now owns 69,260 shares of the company’s stock, valued at $950,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Filip Dubovsky sold 47,312 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total transaction of $657,636.80. Following the sale, the insider now directly owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,312 shares of company stock valued at $866,212. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Novavax by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after buying an additional 978,873 shares during the last quarter. Shah Capital Management lifted its stake in shares of Novavax by 4.3% during the 1st quarter. Shah Capital Management now owns 8,117,827 shares of the biopharmaceutical company’s stock worth $38,803,000 after buying an additional 337,071 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after buying an additional 619,370 shares during the last quarter. Coatue Management LLC acquired a new stake in shares of Novavax during the 4th quarter worth about $7,294,000. Finally, TSP Capital Management Group LLC lifted its stake in shares of Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after buying an additional 265,250 shares during the last quarter. Institutional investors and hedge funds 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.