B. Riley Increases Novavax (NASDAQ:NVAX) Price Target to $29.00

Novavax (NASDAQ:NVAXFree Report) had its price target hoisted by B. Riley from $11.00 to $29.00 in a research note issued to investors on Thursday morning, Benzinga reports. B. Riley currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the stock. HC Wainwright reiterated a buy rating and issued a $19.00 price target on shares of Novavax in a report on Monday, May 13th. Bank of America raised shares of Novavax from an underperform rating to a neutral rating and upped their target price for the stock from $4.00 to $12.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. raised Novavax from an underweight rating to a neutral rating in a research note on Friday, May 10th. Finally, TD Cowen upped their price objective on Novavax from $5.00 to $10.00 and gave the stock a hold rating in a research report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $17.50.

View Our Latest Research Report on Novavax

Novavax Stock Up 2.3 %

NVAX opened at $15.50 on Thursday. The stock has a market cap of $2.18 billion, a P/E ratio of -4.89 and a beta of 1.63. Novavax has a 12 month low of $3.53 and a 12 month high of $17.40. The company has a fifty day simple moving average of $6.52 and a 200 day simple moving average of $5.51.

Novavax (NASDAQ:NVAXGet Free Report) last announced its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The business had revenue of $93.90 million during the quarter, compared to the consensus estimate of $71.32 million. During the same period in the prior year, the business earned ($3.41) EPS. Novavax’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Novavax will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Novavax

In related news, insider Filip Dubovsky sold 47,312 shares of Novavax stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the sale, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

Hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Novavax by 14.6% in the third quarter. Commonwealth Equity Services LLC now owns 17,307 shares of the biopharmaceutical company’s stock valued at $125,000 after acquiring an additional 2,201 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 2,447 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 2,711 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Novavax by 11.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,533 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 4,045 shares during the period. Finally, Swedbank AB acquired a new position in Novavax during the first quarter worth approximately $26,000. 53.04% of the stock is owned by institutional investors.

Novavax Company Profile

(Get Free Report)

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.

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