Brokerages Set Novavax, Inc. (NASDAQ:NVAX) PT at $11.25

Shares of Novavax, Inc. (NASDAQ:NVAX) have been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.25.

Several equities analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Novavax in a research report on Monday, November 10th. TD Cowen decreased their target price on Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. HC Wainwright lifted their price target on Novavax from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut shares of Novavax from a “hold” rating to a “sell” rating in a research report on Saturday.

Hedge Funds Weigh In On Novavax

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Novavax during the 3rd quarter valued at about $33,000. Flagship Harbor Advisors LLC acquired a new position in Novavax in the 4th quarter valued at $33,000. Danske Bank A S acquired a new stake in shares of Novavax in the third quarter valued at about $64,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Novavax by 25.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,896 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 1,617 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Novavax in the second quarter worth $52,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Trading Down 6.3%

Shares of NASDAQ NVAX opened at $8.85 on Wednesday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 4.94 and a beta of 2.37. The stock’s 50 day moving average price is $7.45 and its two-hundred day moving average price is $7.80. The company has a quick ratio of 2.24, a current ratio of 2.27 and a debt-to-equity ratio of 5.93. Novavax has a 52-week low of $5.01 and a 52-week high of $10.64.

Novavax (NASDAQ:NVAX) last issued its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). Novavax had a negative return on equity of 217.02% and a net margin of 32.10%.The business had revenue of $70.45 million for the quarter, compared to analyst estimates of $55.63 million. During the same period last year, the company posted ($0.76) earnings per share. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, analysts anticipate that Novavax will post -1.46 earnings per share for the current fiscal year.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.