Novavax (NASDAQ:NVAX) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research note released on Thursday,Benzinga reports. The firm currently has a $19.00 price target on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on the company. TD Cowen lifted their price target on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. HC Wainwright raised their price objective on Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Weiss Ratings downgraded Novavax from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, B. Riley Financial reissued a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.13.

Novavax Stock Up 5.5%

Shares of NASDAQ NVAX opened at $9.03 on Thursday. Novavax has a 52 week low of $6.13 and a 52 week high of $11.97. The business has a 50-day simple moving average of $8.95 and a two-hundred day simple moving average of $8.54. The company has a market cap of $1.48 billion, a P/E ratio of -15.57 and a beta of 2.45.

Novavax (NASDAQ:NVAX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.19. Novavax had a negative return on equity of 14.82% and a negative net margin of 14.73%.The business had revenue of $118.90 million during the quarter, compared to the consensus estimate of $79.81 million. During the same quarter last year, the company earned $2.93 EPS. The firm’s revenue was down 79.0% compared to the same quarter last year. Equities research analysts anticipate that Novavax will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Novavax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Novavax in the third quarter worth $33,000. Duncker Streett & Co. Inc. boosted its holdings in Novavax by 917.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 3,825 shares in the last quarter. KBC Group NV boosted its holdings in Novavax by 34.9% in the first quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 1,229 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Novavax in the fourth quarter worth $33,000. Finally, Danske Bank A S bought a new stake in Novavax in the third quarter worth $64,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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.