Novavax (NASDAQ:NVAX) Price Target Lowered to $25.00 at B. Riley

Novavax (NASDAQ:NVAX) had its price target cut by B. Riley from $29.00 to $25.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the company. 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 report on Friday, June 14th. 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 report on Tuesday. HC Wainwright reaffirmed a buy rating and set a $19.00 price target on shares of Novavax in a research report on Monday, May 13th. Finally, TD Cowen upped their price target on Novavax from $5.00 to $10.00 and gave the stock a hold rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $16.00.

Novavax Stock Performance

NASDAQ:NVAX traded down $0.79 during trading hours on Friday, reaching $11.78. The company’s stock had a trading volume of 5,944,604 shares, compared to its average volume of 8,339,987. The company has a market capitalization of $1.65 billion, a P/E ratio of -3.72 and a beta of 1.99. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The stock has a 50 day moving average price of $14.65 and a two-hundred day moving average price of $8.74.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to analyst estimates of $71.32 million. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.41) earnings per share. As a group, analysts predict that Novavax will post 0.46 EPS for the current fiscal year.

Insider Activity

In other news, Director James F. Young sold 7,500 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total transaction of $102,900.00. Following the sale, the director now directly owns 69,260 shares of the company’s stock, valued at $950,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Novavax news, Director James F. Young sold 7,500 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $13.72, for a total value of $102,900.00. Following the sale, the director now directly owns 69,260 shares of the company’s stock, valued at $950,247.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.90, for a total transaction of $657,636.80. Following the completion of the sale, the insider now directly owns 38,953 shares in the company, valued at $541,446.70. The disclosure for this sale can be found here. Insiders have sold 62,312 shares of company stock valued at $866,212 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Novavax

Several hedge funds have recently added to or reduced their stakes in the business. Edgestream Partners L.P. boosted its holdings in Novavax by 23.7% in the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 2,447 shares during the last quarter. Banque Cantonale Vaudoise raised its position in shares of Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Novavax by 31.6% in the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,711 shares during the period. Signaturefd LLC raised its position in shares of Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 3,874 shares during the period. Finally, Swedbank AB acquired a new position in shares of Novavax in the first quarter worth about $26,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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.