Novavax, Inc. (NASDAQ:NVAX) Receives $14.00 Average Target Price from Analysts

Novavax, Inc. (NASDAQ:NVAX) has received a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.00.

Several research analysts recently issued reports on the company. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research reissued a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Thursday, June 11th. Zacks Research lowered Novavax from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Novavax in a research report on Tuesday, August 4th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVAX. Shah Capital Management grew its stake in Novavax by 2.0% during the first quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company’s stock worth $120,839,000 after purchasing an additional 286,317 shares during the period. Vanguard Group Inc. grew its position in shares of Novavax by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company’s stock worth $103,961,000 after buying an additional 275,802 shares during the period. California State Teachers Retirement System lifted its position in shares of Novavax by 691.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,477,941 shares of the biopharmaceutical company’s stock valued at $13,922,000 after acquiring an additional 1,291,303 shares during the period. Bank of New York Mellon Corp bought a new position in Novavax during the second quarter worth $8,004,000. Finally, Monaco Asset Management SAM boosted its stake in Novavax by 161.3% during the fourth quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company’s stock worth $7,022,000 after acquiring an additional 645,000 shares in the last quarter. 53.04% of the stock is owned by institutional investors.

Novavax Price Performance

NASDAQ:NVAX opened at $9.59 on Thursday. Novavax has a one year low of $6.20 and a one year high of $11.97. The company has a market cap of $1.58 billion, a PE ratio of -6.31 and a beta of 2.45. The firm’s 50 day simple moving average is $8.62 and its 200 day simple moving average is $9.01.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $56.70 million during the quarter, compared to analysts’ expectations of $52.51 million. Novavax had a negative net margin of 59.87% and a negative return on equity of 14.82%. The company’s revenue was down 76.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. Equities research analysts expect that Novavax will post -0.47 EPS for the current year.

About Novavax

Novavax, Inc is a biotechnology company focused on discovering, developing and commercializing vaccines for infectious diseases. The company’s vaccine platform uses recombinant nanoparticle technology and Matrix-M, its proprietary saponin-based adjuvant, which is designed to enhance and broaden immune responses.

Novavax’s primary commercial product is Nuvaxovid, a protein-based COVID-19 vaccine authorized in multiple markets. The vaccine has also been marketed as Covovax through partnerships in certain countries.