Novavax, Inc. (NVAX) Receives Consensus Recommendation of “Hold” from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been given a consensus recommendation of “Hold” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.84.

NVAX has been the subject of a number of research analyst reports. BidaskClub lowered shares of Novavax from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 price target on shares of Novavax in a research report on Monday, December 18th. Citigroup raised shares of Novavax from a “neutral” rating to a “buy” rating and set a $2.00 price target for the company in a research report on Tuesday, October 31st. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Novavax in a research report on Friday, October 6th.

In related news, insider Stanley C. Erck purchased 100,000 shares of Novavax stock in a transaction dated Thursday, November 9th. The stock was acquired at an average cost of $1.13 per share, with a total value of $113,000.00. Following the completion of the transaction, the insider now directly owns 228,279 shares of the company’s stock, valued at $257,955.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in Novavax by 19.6% in the third quarter. Canada Pension Plan Investment Board now owns 567,800 shares of the biopharmaceutical company’s stock worth $647,000 after buying an additional 92,900 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Novavax by 39.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock worth $1,328,000 after buying an additional 326,415 shares during the last quarter. Nationwide Fund Advisors increased its holdings in Novavax by 555.1% in the second quarter. Nationwide Fund Advisors now owns 1,024,020 shares of the biopharmaceutical company’s stock worth $1,178,000 after buying an additional 867,700 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Novavax by 40.1% in the second quarter. JPMorgan Chase & Co. now owns 5,196,508 shares of the biopharmaceutical company’s stock worth $5,976,000 after buying an additional 1,488,403 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Novavax by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,610 shares of the biopharmaceutical company’s stock worth $1,600,000 after buying an additional 176,510 shares during the last quarter. 35.69% of the stock is owned by institutional investors and hedge funds.

Novavax (NVAX) traded up $0.15 during mid-day trading on Friday, reaching $1.97. 14,100,000 shares of the company’s stock were exchanged, compared to its average volume of 11,750,000. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28. Novavax has a 52 week low of $0.73 and a 52 week high of $2.14. The stock has a market capitalization of $617.82, a price-to-earnings ratio of -2.90 and a beta of 2.03.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $8.35 million for the quarter, compared to analysts’ expectations of $6.42 million. During the same period in the prior year, the company posted ($0.24) earnings per share. Novavax’s quarterly revenue was up 158.5% compared to the same quarter last year. analysts forecast that Novavax will post -0.62 EPS for the current year.

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Novavax Company Profile

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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