Novavax’s (NVAX) Neutral Rating Reaffirmed at Chardan Capital
Novavax Inc. (NASDAQ:NVAX)‘s stock had its “neutral” rating reissued by equities research analysts at Chardan Capital in a research report issued on Friday. They currently have a $1.50 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price target points to a potential upside of 7.14% from the company’s previous close.
Several other research analysts also recently weighed in on NVAX. Vetr upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 price target for the company in a research report on Tuesday, July 19th. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Novavax in a research report on Wednesday, July 27th. Citigroup Inc. upped their price target on shares of Novavax from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Zacks Investment Research downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, FBR & Co set a $17.00 price target on shares of Novavax and gave the stock a “buy” rating in a research report on Thursday, August 11th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Novavax currently has an average rating of “Hold” and an average target price of $7.06.
Shares of Novavax (NASDAQ:NVAX) opened at 1.40 on Friday. The company’s market cap is $379.17 million. The firm has a 50-day moving average of $1.72 and a 200 day moving average of $5.24. Novavax has a 52 week low of $1.16 and a 52 week high of $9.23.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.02. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The firm earned $3.20 million during the quarter, compared to the consensus estimate of $4.02 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was down 50.8% on a year-over-year basis. Equities analysts expect that Novavax will post ($1.09) EPS for the current fiscal year.
In other news, Director Michael A. Mcmanus, Jr. purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, September 21st. The stock was acquired at an average price of $1.61 per share, with a total value of $48,300.00. Following the purchase, the director now directly owns 247,590 shares in the company, valued at approximately $398,619.90. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Trizzino purchased 46,000 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was purchased at an average cost of $2.17 per share, with a total value of $99,820.00. Following the purchase, the senior vice president now owns 85,564 shares in the company, valued at $185,673.88. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of NVAX. 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 valued at $65,593,000 after buying an additional 3,849,585 shares during the period. State Street Corp boosted its position 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 during the last quarter. Deerfield Management Co. bought a new position in Novavax during the first quarter worth $12,674,000. Janus Capital Management LLC boosted its position 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 during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Novavax by 110.5% in the third quarter. JPMorgan Chase & Co. now owns 3,570,243 shares of the biopharmaceutical company’s stock worth $7,427,000 after buying an additional 1,873,773 shares during the last quarter. 77.98% of the stock is owned by institutional investors and hedge funds.
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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