Novavax, Inc. (NASDAQ:NVAX) Receives $11.25 Consensus Target Price from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.25.

Several analysts recently issued reports on the stock. Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. cut their target price on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novavax in a research note on Monday, December 29th. TD Cowen lowered their price objective on Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $16.00 target price (down from $18.00) on shares of Novavax in a report on Monday, November 10th.

Institutional Trading of Novavax

Several institutional investors have recently added to or reduced their stakes in NVAX. Shah Capital Management boosted its stake in Novavax by 23.3% in the fourth quarter. Shah Capital Management now owns 14,558,780 shares of the biopharmaceutical company’s stock valued at $97,835,000 after acquiring an additional 2,747,000 shares during the period. State Street Corp boosted its position in Novavax by 32.3% during the 4th quarter. State Street Corp now owns 9,523,646 shares of the biopharmaceutical company’s stock valued at $63,999,000 after purchasing an additional 2,326,927 shares during the period. UBS Group AG grew its stake in Novavax by 40.3% during the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company’s stock worth $32,890,000 after buying an additional 1,405,981 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Novavax by 162.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,409,734 shares of the biopharmaceutical company’s stock worth $12,222,000 after buying an additional 872,987 shares during the last quarter. Finally, Farallon Capital Management LLC increased its position in Novavax by 4,775.0% in the third quarter. Farallon Capital Management LLC now owns 780,000 shares of the biopharmaceutical company’s stock worth $6,763,000 after buying an additional 764,000 shares during the period. Institutional investors own 53.04% of the company’s stock.

Novavax Price Performance

NVAX stock opened at $9.46 on Friday. The stock’s 50 day moving average is $8.12 and its two-hundred day moving average is $7.99. Novavax has a 52-week low of $5.01 and a 52-week high of $10.64. The company has a market capitalization of $1.54 billion, a PE ratio of 5.28 and a beta of 2.58. The company has a quick ratio of 2.24, a current ratio of 2.27 and a debt-to-equity ratio of 5.93.

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.