Novavax, Inc. (NASDAQ:NVAX) Receives $11.25 Consensus PT from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.25.

A number of brokerages have weighed in on NVAX. HC Wainwright boosted their price objective on Novavax from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. TD Cowen reduced their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novavax in a research report on Monday, December 29th. Wall Street Zen lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, November 18th.

Novavax Price Performance

Shares of NVAX opened at $7.62 on Friday. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.27 and a quick ratio of 2.24. Novavax has a 1-year low of $5.01 and a 1-year high of $10.64. The stock has a market cap of $1.24 billion, a PE ratio of 4.26 and a beta of 2.37. The firm has a fifty day moving average price of $6.97 and a 200 day moving average price of $7.58.

Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). The firm had revenue of $70.45 million for the quarter, compared to analyst estimates of $55.63 million. Novavax had a negative return on equity of 217.02% and a net margin of 32.10%.The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. As a group, sell-side analysts anticipate that Novavax will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NVAX. Bayforest Capital Ltd acquired a new stake in Novavax in the first quarter valued at about $404,000. Kingstone Capital Partners Texas LLC purchased a new position in shares of Novavax during the 2nd quarter worth approximately $1,016,000. TSP Capital Management Group LLC lifted its holdings in shares of Novavax by 3.5% in the 2nd quarter. TSP Capital Management Group LLC now owns 1,399,065 shares of the biopharmaceutical company’s stock valued at $8,814,000 after buying an additional 46,900 shares during the period. Shah Capital Management lifted its holdings in shares of Novavax by 3.4% in the 2nd quarter. Shah Capital Management now owns 11,511,780 shares of the biopharmaceutical company’s stock valued at $72,524,000 after buying an additional 379,934 shares during the period. Finally, Park West Asset Management LLC purchased a new stake in shares of Novavax in the first quarter valued at approximately $16,210,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.