Novavax (NASDAQ:NVAX) Sets New 52-Week High at $11.00

Novavax, Inc. (NASDAQ:NVAX) reached a new 52-week high on Friday . The company traded as high as $11.00 and last traded at $10.73, with a volume of 89464496 shares traded. The stock had previously closed at $4.47.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVAX. Bank of America raised Novavax from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $4.00 to $12.00 in a research note on Friday. HC Wainwright decreased their target price on Novavax from $35.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.33.

Novavax Stock Up 98.7 %

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -1.58 and a beta of 1.63. The stock’s 50 day moving average price is $4.66 and its two-hundred day moving average price is $4.98.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The company had revenue of $291.34 million for the quarter, compared to the consensus estimate of $310.96 million. During the same quarter in the previous year, the company posted ($2.28) EPS. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, analysts predict that Novavax, Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in Novavax by 14.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,307 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 2,201 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Novavax during the 3rd quarter worth approximately $212,000. Raymond James & Associates acquired a new position in Novavax during the 3rd quarter worth approximately $1,021,000. Raymond James Financial Services Advisors Inc. acquired a new position in Novavax during the 3rd quarter worth approximately $76,000. Finally, Bank of New York Mellon Corp grew its holdings in Novavax by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 364,532 shares of the biopharmaceutical company’s stock worth $2,639,000 after acquiring an additional 13,326 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.