BidaskClub Upgrades Novavax (NVAX) to “Buy”
Novavax (NASDAQ:NVAX) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday.
A number of other brokerages have also recently issued reports on NVAX. Citigroup cut Novavax from a “buy” rating to a “neutral” rating and set a $1.00 price objective for the company. in a research note on Tuesday, December 19th. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price objective on shares of Novavax in a research note on Monday, December 18th. Seaport Global Securities reiterated a “neutral” rating on shares of Novavax in a research note on Friday, October 6th. Finally, Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.98.
Novavax (NASDAQ:NVAX) opened at $1.24 on Friday. The stock has a market capitalization of $388.88, a price-to-earnings ratio of -1.82 and a beta of 2.03. Novavax has a one year low of $0.73 and a one year high of $1.78. The company has a debt-to-equity ratio of -4.28, a quick ratio of 3.31 and a current ratio of 3.31.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $8.35 million for the quarter, compared to analysts’ expectations of $6.42 million. The firm’s quarterly revenue was up 158.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) EPS. equities research analysts forecast that Novavax will post -0.62 EPS for the current fiscal year.
In other Novavax news, insider Stanley C. Erck bought 100,000 shares of Novavax stock in a transaction on Thursday, November 9th. The stock was acquired at an average price of $1.13 per share, with a total value of $113,000.00. Following the acquisition, the insider now owns 228,279 shares in the company, valued at $257,955.27. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. increased its holdings in shares of Novavax by 74.8% in the 3rd quarter. Brown Advisory Inc. now owns 162,700 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 69,600 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Novavax by 6.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,225,018 shares of the biopharmaceutical company’s stock worth $1,397,000 after purchasing an additional 71,047 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Novavax by 30.8% in the 3rd quarter. Wells Fargo & Company MN now owns 446,831 shares of the biopharmaceutical company’s stock worth $509,000 after purchasing an additional 105,117 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Novavax by 19.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 567,800 shares of the biopharmaceutical company’s stock worth $647,000 after purchasing an additional 92,900 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Novavax by 49.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 89,697 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 29,800 shares in the last quarter. 36.78% of the stock is owned by institutional investors and hedge funds.
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Novavax, Inc 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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