Novavax (NASDAQ:NVAX) Given New $7.00 Price Target at TD Cowen

Novavax (NASDAQ:NVAX) had its price objective reduced by stock analysts at TD Cowen from $8.00 to $7.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s price objective would indicate a potential downside of 8.32% from the stock’s current price.

NVAX has been the subject of several other reports. HC Wainwright upped their price objective on Novavax from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Bank of America reaffirmed an “underperform” rating and issued a $7.00 target price (down previously from $9.00) on shares of Novavax in a report on Wednesday, August 20th. Cantor Fitzgerald initiated coverage on shares of Novavax in a report on Friday, October 24th. They issued an “overweight” rating and a $18.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Novavax in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus target price of $10.71.

Novavax Stock Performance

NVAX traded down $0.28 during mid-day trading on Tuesday, reaching $7.64. 2,746,401 shares of the company traded hands, compared to its average volume of 6,268,114. The stock has a market capitalization of $1.24 billion, a P/E ratio of 3.35, a P/E/G ratio of 0.12 and a beta of 2.74. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. The company’s fifty day moving average price is $8.39 and its 200-day moving average price is $7.55. Novavax has a 52-week low of $5.01 and a 52-week high of $11.55.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.69. The business had revenue of $239.24 million during the quarter, compared to analyst estimates of $149.19 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. The company’s quarterly revenue was down 42.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. On average, sell-side analysts expect that Novavax will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Novavax

Large investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its position in Novavax by 11.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 1,268 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Novavax by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 1,718 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Novavax by 5.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 34,095 shares of the biopharmaceutical company’s stock valued at $215,000 after acquiring an additional 1,766 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in Novavax by 9.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 28,280 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 2,326 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Novavax by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock valued at $678,000 after acquiring an additional 2,750 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

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.