Shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) have been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $162.57.
A number of equities research analysts have issued reports on NVAX shares. Cantor Fitzgerald raised their price target on shares of Novavax from $146.00 to $168.00 in a report on Wednesday, June 8th. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Novavax in a research report on Friday, June 3rd. B. Riley dropped their target price on shares of Novavax from $181.00 to $171.00 in a research report on Friday, July 22nd. Finally, Bank of America initiated coverage on shares of Novavax in a research report on Friday, May 20th. They issued an “underperform” rating and a $35.00 target price for the company.
Institutional Trading of Novavax
A number of institutional investors and hedge funds have recently bought and sold shares of NVAX. National Bank of Canada FI bought a new stake in Novavax during the 4th quarter valued at about $206,000. Janney Montgomery Scott LLC grew its stake in shares of Novavax by 2.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,414 shares of the biopharmaceutical company’s stock worth $1,061,000 after acquiring an additional 206 shares during the period. State of Michigan Retirement System bought a new stake in shares of Novavax in the fourth quarter worth approximately $200,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Novavax in the fourth quarter worth approximately $1,320,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Novavax by 1.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,764 shares of the biopharmaceutical company’s stock worth $1,826,000 after acquiring an additional 171 shares during the period. 43.91% of the stock is currently owned by institutional investors.
Novavax Price Performance
Novavax (NASDAQ:NVAX – Get Rating) last released its earnings results on Monday, May 9th. The biopharmaceutical company reported $2.56 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.77). Novavax had a negative net margin of 93.91% and a negative return on equity of 572.54%. The business had revenue of $703.97 million for the quarter, compared to the consensus estimate of $845.20 million. During the same period in the prior year, the business posted ($3.05) EPS. Novavax’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Novavax will post 27.23 EPS for the current year.
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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