Novavax (NVAX) Sees Strong Trading Volume After Analyst Upgrade
Novavax, Inc. (NASDAQ:NVAX) saw an uptick in trading volume on Tuesday after Oppenheimer raised their price target on the stock from $1.25 to $25.00. 6,110,822 shares were traded during trading, an increase of 633% from the previous session’s volume of 833,591 shares.The stock last traded at $7.13 and had previously closed at $5.76.
NVAX has been the subject of several other reports. Zacks Investment Research lowered shares of Novavax from a “buy” rating to a “hold” rating in a report on Friday, May 10th. HC Wainwright began coverage on shares of Novavax in a report on Monday, January 28th. They set a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. lowered shares of Novavax from an “overweight” rating to an “underweight” rating in a report on Thursday, February 28th. BidaskClub lowered shares of Novavax from a “buy” rating to a “hold” rating in a report on Tuesday, January 22nd. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $40.00 price objective on shares of Novavax in a report on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.70.
In other news, Director Rachel K. King acquired 86,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average cost of $0.53 per share, for a total transaction of $45,580.00. Following the acquisition, the director now directly owns 42,000 shares in the company, valued at $22,260. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by insiders.
The stock has a market capitalization of $157.03 million, a P/E ratio of -0.67 and a beta of 1.98.
Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) EPS for the quarter, topping analysts’ consensus estimates of ($2.40) by $0.20. The company had revenue of $3.98 million during the quarter, compared to the consensus estimate of $4.80 million. During the same period last year, the firm posted ($2.80) EPS. On average, research analysts predict that Novavax, Inc. will post -7.31 EPS for the current year.
About Novavax (NASDAQ:NVAX)
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
See Also: Penny Stocks, Risk and Reward Factors
Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.