Wedbush Reiterates Neutral Rating for Novavax Inc. (NVAX)
Novavax Inc. (NASDAQ:NVAX)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a research note issued to investors on Friday. They presently have a $1.50 target price on the biopharmaceutical company’s stock, down from their prior target price of $2.00. Wedbush’s price target would indicate a potential upside of 7.14% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Chardan Capital reissued a “hold” rating and issued a $5.75 price target on shares of Novavax in a research report on Sunday, August 14th. Citigroup Inc. increased their price target on Novavax from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Guggenheim reaffirmed a “buy” rating and set a $25.00 target price on shares of Novavax in a research report on Monday, August 29th. Vetr raised Novavax from a “buy” rating to a “strong-buy” rating and set a $8.35 target price for the company in a research report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $14.00 target price on shares of Novavax in a research report on Friday, September 9th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.01.
Shares of Novavax (NASDAQ:NVAX) opened at 1.40 on Friday. The stock has a 50 day moving average of $1.72 and a 200-day moving average of $5.24. The company’s market cap is $379.17 million. Novavax has a 12 month low of $1.16 and a 12 month high of $9.23.
Novavax (NASDAQ:NVAX) last issued its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. Novavax had a negative return on equity of 153.86% and a negative net margin of 1,908.41%. The company had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $4.02 million. During the same period last year, the business earned ($0.12) EPS. Novavax’s quarterly revenue was down 50.8% compared to the same quarter last year. Equities analysts forecast that Novavax will post ($1.09) earnings per share for the current year.
In related news, Director Michael A. Mcmanus, Jr. bought 30,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was acquired at an average price of $1.61 per share, for a total transaction of $48,300.00. Following the purchase, the director now directly owns 247,590 shares in the company, valued at $398,619.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gail Boudreaux bought 100,000 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was bought at an average price of $1.45 per share, with a total value of $145,000.00. Following the purchase, the director now owns 200,000 shares in the company, valued at $290,000. The disclosure for this purchase can be found here. 3.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. increased its position in shares of Novavax by 17.5% in the second quarter. Coldstream Capital Management Inc. now owns 13,805 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 2,055 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Novavax by 1.1% in the third quarter. Principal Financial Group Inc. now owns 48,096 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 536 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Novavax during the second quarter valued at approximately $102,000. Veritable L.P. bought a new position in shares of Novavax during the second quarter valued at approximately $102,000. Finally, BlackRock Inc. increased its position in shares of Novavax by 138.7% in the first quarter. BlackRock Inc. now owns 19,870 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 11,547 shares in the last quarter. Institutional investors and hedge funds own 77.98% 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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