Novavax, Inc. (NASDAQ:NVAX) Receives $19.00 Average Price Target from Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.00.

Several research firms recently weighed in on NVAX. B. Riley cut their price target on Novavax from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Monday, May 13th. TD Cowen upped their price target on Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Bank of America upped their price target on Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. downgraded Novavax from a “neutral” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Tuesday.

Insider Buying and Selling at Novavax

In other news, insider Filip Dubovsky sold 47,312 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the transaction, the insider now directly owns 38,953 shares in the company, valued at approximately $541,446.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director James F. Young sold 7,500 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $13.72, for a total value of $102,900.00. Following the transaction, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Filip Dubovsky sold 47,312 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $13.90, for a total value of $657,636.80. Following the completion of the transaction, the insider now owns 38,953 shares in the company, valued at $541,446.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,312 shares of company stock worth $866,212. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Novavax

Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Novavax in the 1st quarter worth $1,499,000. Vanguard Group Inc. raised its holdings in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock worth $83,633,000 after purchasing an additional 978,873 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Novavax by 467.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock worth $66,000 after purchasing an additional 11,319 shares during the period. Shah Capital Management raised its holdings in Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares during the period. Finally, SG Americas Securities LLC bought a new position in Novavax in the 4th quarter worth $824,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $11.78 on Friday. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The firm has a market capitalization of $1.65 billion, a P/E ratio of -3.72 and a beta of 1.99. The stock has a 50 day moving average price of $14.65 and a 200-day moving average price of $8.74.

Novavax (NASDAQ:NVAX) last announced its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $71.32 million. During the same period in the prior year, the company earned ($3.41) earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Novavax will post 0.46 EPS for the current fiscal year.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.