Novavax Inc. (NVAX) Receives $6.60 Average PT from Analysts
Novavax Inc. (NASDAQ:NVAX) has been assigned an average rating of “Hold” from the eleven ratings firms that are covering the company. Seven investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.60.
Several brokerages have recently issued reports on NVAX. FBR & Co reiterated an “outperform” rating and set a $12.00 price target on shares of Novavax in a report on Monday. Zacks Investment Research upgraded Novavax from a “sell” rating to a “hold” rating in a report on Wednesday, September 21st. Chardan Capital reduced their target price on Novavax from $5.75 to $1.50 and set a “neutral” rating for the company in a report on Tuesday, September 20th. S&P Equity Research reduced their target price on Novavax from $1.44 to $1.17 in a report on Friday, September 16th. Finally, Citigroup Inc. lowered Novavax from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $1.50 in a report on Friday, September 16th.
Novavax (NASDAQ:NVAX) opened at 1.62 on Monday. The stock’s market capitalization is $438.75 million. The stock’s 50 day moving average is $4.42 and its 200 day moving average is $5.82. Novavax has a one year low of $1.16 and a one year high of $9.23.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm’s quarterly revenue was down 82.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts forecast that Novavax will post ($1.09) EPS for the current year.
In other news, Director Gail Boudreaux acquired 100,000 shares of the stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the transaction, the director now owns 200,000 shares in the company, valued at approximately $290,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Mcmanus, Jr. acquired 30,000 shares of the stock in a transaction dated Wednesday, September 21st. The shares were purchased at an average price of $1.61 per share, for a total transaction of $48,300.00. Following the completion of the transaction, the director now owns 247,590 shares of the company’s stock, valued at approximately $398,619.90. The disclosure for this purchase can be found here. 3.50% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares in the last quarter. State Street Corp boosted its stake in Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares in the last quarter. Deerfield Management Co. purchased a new stake in Novavax during the first quarter worth about $12,674,000. Franklin Resources Inc. boosted its stake in Novavax by 71.8% in the first quarter. Franklin Resources Inc. now owns 5,226,565 shares of the biopharmaceutical company’s stock worth $26,969,000 after buying an additional 2,183,700 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in Novavax by 40.3% in the second quarter. Janus Capital Management LLC now owns 7,441,710 shares of the biopharmaceutical company’s stock worth $54,100,000 after buying an additional 2,136,258 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.
Novavax, Inc (Novavax) 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.
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