Shares of Novavax, Inc. (NASDAQ:NVAX – Get Free Report) have received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.83.
A number of research firms have recently commented on NVAX. Jefferies Financial Group reissued a “buy” rating and set a $31.00 target price on shares of Novavax in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, B. Riley reiterated a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th.
Get Our Latest Analysis on NVAX
Novavax Price Performance
Novavax (NASDAQ:NVAX – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million for the quarter, compared to the consensus estimate of $458.57 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts expect that Novavax will post -0.97 EPS for the current fiscal year.
Hedge Funds Weigh In On Novavax
Several institutional investors have recently made changes to their positions in NVAX. Shah Capital Management increased its holdings in shares of Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock valued at $122,322,000 after purchasing an additional 1,544,263 shares during the period. Coatue Management LLC bought a new stake in Novavax in the fourth quarter worth about $7,294,000. TSP Capital Management Group LLC raised its holdings in shares of Novavax by 23.9% in the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after purchasing an additional 265,250 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Novavax by 940.7% in the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after buying an additional 1,043,363 shares in the last quarter. Finally, Farallon Capital Management LLC acquired a new stake in shares of Novavax during the 1st quarter valued at $5,406,000. 53.04% of the stock is owned by institutional investors.
About Novavax
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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