Novavax, Inc. (NASDAQ:NVAX) Receives $18.00 Average Target Price from Brokerages

Shares of Novavax, Inc. (NASDAQ:NVAX) have received an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several research firms have commented on NVAX. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. TD Cowen upgraded Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, BTIG Research started coverage on Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 target price for the company.

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $6.24 on Thursday. The firm has a market capitalization of $1.00 billion, a PE ratio of -2.76, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92. Novavax has a 52-week low of $3.81 and a 52-week high of $23.86. The firm has a fifty day moving average of $7.84 and a 200 day moving average of $9.11.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter in the previous year, the company posted ($1.44) earnings per share. On average, sell-side analysts forecast that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. GF Fund Management CO. LTD. purchased a new stake in Novavax in the fourth quarter worth about $27,000. Spire Wealth Management bought a new stake in Novavax in the fourth quarter worth $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Novavax in the fourth quarter worth $35,000. KBC Group NV increased its holdings in shares of Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 3,917 shares in the last quarter. Finally, TigerOak Management L.L.C. bought a new position in shares of Novavax during the fourth quarter valued at $86,000. 53.04% of the stock is owned by hedge funds and other 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.