Novavax, Inc. (NASDAQ:NVAX) Receives $19.00 Average Target Price from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has received a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.00.

NVAX has been the topic of several analyst reports. B. Riley reduced their target price on Novavax from $29.00 to $25.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered Novavax from a “neutral” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research note on Tuesday. Bank of America raised their price objective on Novavax from $12.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, June 14th. TD Cowen raised their price objective on Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Monday, May 13th.

Insider Transactions at Novavax

In related news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Filip Dubovsky sold 47,312 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total value of $102,900.00. Following the sale, the director now directly owns 69,260 shares of the company’s stock, valued at approximately $950,247.20. The disclosure for this sale can be found here. Insiders sold 62,312 shares of company stock worth $866,212 over the last ninety days. 0.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Novavax

Large investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in Novavax in the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise grew its stake in Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 2,500 shares during the period. Herr Investment Group LLC acquired a new stake in Novavax in the first quarter valued at approximately $48,000. Alpine Global Management LLC acquired a new stake in Novavax in the first quarter valued at approximately $49,000. Finally, Ameritas Investment Partners Inc. grew its stake in Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 2,711 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

Novavax Stock Performance

NVAX opened at $11.78 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of -3.72 and a beta of 1.99. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The business’s fifty day moving average is $14.65 and its 200-day moving average is $8.74.

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

About Novavax

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.