Novavax, Inc. (NASDAQ:NVAX) Receives $17.50 Consensus Price Target from Analysts

Shares of Novavax, Inc. (NASDAQ:NVAXGet Free Report) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $17.50.

NVAX has been the subject of several analyst reports. B. Riley boosted their price target on shares of Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America upgraded shares of Novavax from an “underperform” rating to a “neutral” rating and upped their target price for the company from $4.00 to $12.00 in a report on Friday, May 10th. TD Cowen upped their target price on shares of Novavax from $5.00 to $10.00 and gave the company a “hold” rating in a report on Monday, May 13th. JPMorgan Chase & Co. raised Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a report on Monday, May 13th.

Check Out Our Latest Stock Report on NVAX

Novavax Stock Down 5.1 %

Shares of NASDAQ NVAX opened at $15.05 on Friday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -4.75, a PEG ratio of 0.94 and a beta of 1.96. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The business’s 50 day moving average is $9.88 and its two-hundred day moving average is $6.58.

Novavax (NASDAQ:NVAXGet Free Report) last issued its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share 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 quarter last year, the business posted ($3.41) EPS. Novavax’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts anticipate that Novavax will post 0.36 EPS for the current fiscal year.

Insider Activity

In other Novavax news, insider Filip Dubovsky sold 47,312 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total value of $657,636.80. Following the transaction, the insider now directly owns 38,953 shares of the company’s stock, valued at approximately $541,446.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Novavax

Institutional investors and hedge funds have recently made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Novavax in the 1st quarter worth about $26,000. Herr Investment Group LLC purchased a new position in Novavax in the 1st quarter valued at about $48,000. Alpine Global Management LLC purchased a new position in Novavax in the 1st quarter valued at about $49,000. Ameritas Investment Partners Inc. lifted its holdings 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 in the last quarter. Finally, Edgestream Partners L.P. lifted its holdings 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 in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

About Novavax

(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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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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