Novavax, Inc. (NASDAQ:NVAX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX – Get Rating) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $84.17.

Several equities research analysts have weighed in on the stock. B. Riley downgraded shares of Novavax from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 1st. StockNews.com downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research report on Monday, March 6th. Jefferies Financial Group assumed coverage on shares of Novavax in a research report on Friday, December 2nd. They set a “hold” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $110.00 target price on shares of Novavax in a research report on Monday, February 13th.

Novavax Trading Down 5.9 %

NVAX opened at $5.90 on Thursday. Novavax has a 1-year low of $5.85 and a 1-year high of $85.60. The company has a market cap of $508.40 million, a P/E ratio of -0.70 and a beta of 1.78. The company has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $16.54.

Novavax (NASDAQ:NVAX – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($2.28) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.36). The business had revenue of $357.40 million for the quarter, compared to analysts’ expectations of $383.14 million. During the same period in the prior year, the business posted ($11.18) earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. On average, research analysts forecast that Novavax will post -5 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

A number of institutional investors have recently added to or reduced their stakes in the company. Toroso Investments LLC grew its position in Novavax by 15.3% in the 1st quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 437 shares in the last quarter. Arizona State Retirement System boosted its stake in Novavax by 2.7% in the third quarter. Arizona State Retirement System now owns 21,233 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 560 shares during the last quarter. US Bancorp DE boosted its stake in Novavax by 41.8% in the first quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 614 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Novavax by 34.9% in the first quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock valued at $204,000 after acquiring an additional 715 shares during the last quarter. Finally, B. Riley Wealth Management Inc. boosted its stake in Novavax by 22.0% in the second quarter. B. Riley Wealth Management Inc. now owns 5,044 shares of the biopharmaceutical company’s stock valued at $259,000 after acquiring an additional 909 shares during the last quarter. 45.70% of the stock is owned by institutional investors.

About Novavax

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Novavax, Inc Is a biotechnology company, which engages in the discovery, development, and commercialization of recombinant vaccines. The company was founded in 1987 and is headquartered in Gaithersburg, MD.