Brokerages Set Novavax Inc. (NVAX) Price Target at $6.60
Novavax Inc. (NASDAQ:NVAX) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company. Seven analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.60.
NVAX has been the subject of several recent analyst reports. Vetr downgraded Novavax from a “buy” rating to a “hold” rating and set a $7.86 price objective for the company. in a research report on Tuesday, August 9th. Piper Jaffray Cos. downgraded Novavax from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $14.00 to $1.00 in a research report on Friday, September 16th. Citigroup Inc. downgraded Novavax from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $12.00 to $1.50 in a research report on Friday, September 16th. FBR & Co restated an “outperform” rating and set a $12.00 price objective on shares of Novavax in a research report on Monday, October 10th. Finally, Zacks Investment Research downgraded Novavax from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th.
In related news, Director Gail Boudreaux acquired 100,000 shares of the stock in a transaction dated Tuesday, September 20th. The stock was bought at an average cost of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now directly owns 200,000 shares of the company’s stock, valued at $290,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Trizzino acquired 46,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were bought at an average price of $2.17 per share, with a total value of $99,820.00. Following the completion of the transaction, the senior vice president now directly owns 85,564 shares of the company’s stock, valued at $185,673.88. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of NVAX. Barclays PLC increased its position in shares of Novavax by 202.8% in the first quarter. Barclays PLC now owns 53,215 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 35,640 shares during the period. Bellevue Group AG bought a new position in shares of Novavax during the first quarter worth about $1,677,000. Wellington Management Group LLP increased its position in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares during the period. State Street Corp increased its position in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares during the period. Finally, Wexford Capital LP bought a new position in shares of Novavax during the first quarter worth about $990,000. Institutional investors own 79.84% of the company’s stock.
Novavax (NASDAQ:NVAX) opened at 1.56 on Monday. Novavax has a 52-week low of $1.16 and a 52-week high of $9.23. The firm’s market capitalization is $422.50 million. The stock’s 50 day moving average price is $4.12 and its 200 day moving average price is $5.77.
Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.04. The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $8.03 million. Novavax had a negative return on equity of 112.45% and a negative net margin of 1,405.84%. The business’s revenue for the quarter was down 82.1% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. On average, equities analysts anticipate that Novavax will post ($1.09) earnings per share for the current fiscal year.
Novavax Company Profile
Novavax, Inc (Novavax) 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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