Brokerages Set Novavax, Inc. (NASDAQ:NVAX) PT at $13.00

Novavax, Inc. (NASDAQ:NVAX) has earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.00.

Several equities analysts have recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Jefferies Financial Group restated a “buy” rating on shares of Novavax in a research note on Thursday, March 12th. Weiss Ratings downgraded Novavax from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, BTIG Research reiterated a “buy” rating and issued a $19.00 target price on shares of Novavax in a research report on Thursday, June 11th.

Hedge Funds Weigh In On Novavax

Several large investors have recently added to or reduced their stakes in NVAX. Flagship Harbor Advisors LLC acquired a new position in Novavax in the fourth quarter worth $33,000. Quarry LP acquired a new stake in shares of Novavax during the third quarter worth $33,000. Duncker Streett & Co. Inc. raised its holdings in shares of Novavax by 917.3% during the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares during the period. KBC Group NV lifted its position in shares of Novavax by 34.9% in the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 1,229 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Novavax in the 2nd quarter worth about $52,000. 53.04% of the stock is currently owned by institutional investors.

Novavax Price Performance

NVAX opened at $9.74 on Friday. Novavax has a 12-month low of $6.20 and a 12-month high of $11.97. The stock has a market capitalization of $1.60 billion, a PE ratio of -16.79 and a beta of 2.43. The firm’s fifty day moving average price is $9.23 and its 200 day moving average price is $8.80.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.19. The company had revenue of $118.90 million during the quarter, compared to analyst estimates of $79.81 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The firm’s revenue for the quarter was down 79.0% compared to the same quarter last year. During the same period last year, the business earned $2.93 EPS. On average, equities research analysts forecast that Novavax will post -0.19 earnings per share for the current fiscal year.

About Novavax

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.