Cantor Fitzgerald Raises Novavax (NASDAQ:NVAX) Price Target to $168.00

Novavax (NASDAQ:NVAXGet Rating) had its price target lifted by research analysts at Cantor Fitzgerald from $146.00 to $168.00 in a research report issued on Wednesday, The Fly reports. Cantor Fitzgerald’s price objective would indicate a potential upside of 253.39% from the company’s previous close. Cantor Fitzgerald also issued estimates for Novavax’s FY2023 earnings at $6.17 EPS.

NVAX has been the subject of several other reports. B. Riley decreased their target price on shares of Novavax from $203.00 to $181.00 in a research report on Wednesday, May 11th. HC Wainwright reduced their target price on Novavax from $294.00 to $207.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. assumed coverage on shares of Novavax in a research report on Thursday, March 31st. They set a “hold” rating for the company. Cowen restated a “buy” rating and issued a $150.00 price objective on shares of Novavax in a research report on Friday, June 3rd. Finally, Jefferies Financial Group began coverage on shares of Novavax in a research report on Tuesday, February 22nd. They issued a “buy” rating and a $198.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $174.25.

Shares of NASDAQ:NVAX opened at $47.54 on Wednesday. The stock has a market capitalization of $3.71 billion, a P/E ratio of -2.69, a PEG ratio of 0.05 and a beta of 1.58. Novavax has a 1 year low of $41.10 and a 1 year high of $277.80. The stock has a 50-day simple moving average of $54.89 and a 200-day simple moving average of $96.64.

Novavax (NASDAQ:NVAXGet Rating) last issued its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported $2.56 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.77). The company had revenue of $703.97 million for the quarter, compared to the consensus estimate of $845.20 million. Novavax had a negative return on equity of 572.54% and a negative net margin of 93.91%. Novavax’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($3.05) earnings per share. Research analysts expect that Novavax will post 25.01 EPS for the current year.

In other news, Director James F. Young sold 12,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $73.58, for a total value of $919,750.00. Following the transaction, the director now owns 62,590 shares of the company’s stock, valued at $4,605,372.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new position in Novavax during the 1st quarter valued at about $757,000. Neuberger Berman Group LLC lifted its stake in shares of Novavax by 34.9% during the first quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock worth $204,000 after buying an additional 715 shares during the period. International Biotechnology Trust PLC acquired a new position in shares of Novavax in the 1st quarter valued at $18,549,000. Toroso Investments LLC boosted its position in Novavax by 15.3% in the first quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 437 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Novavax in the 1st quarter worth approximately $2,570,000. Institutional investors and hedge funds own 43.91% of the company’s stock.

Novavax Company Profile (Get Rating)

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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