Novavax (NASDAQ:NVAX) Price Target Cut to $25.00

Novavax (NASDAQ:NVAX) had its price objective trimmed by Jefferies Financial Group from $31.00 to $25.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

NVAX has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. B. Riley reiterated a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Trading Down 19.4 %

NASDAQ NVAX opened at $10.15 on Wednesday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.20 and a beta of 2.04. The stock has a 50-day moving average of $12.50 and a 200 day moving average of $11.67. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86.

Novavax (NASDAQ:NVAX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.83). The firm had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. During the same period last year, the firm posted $0.58 earnings per share. Novavax’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts predict that Novavax will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TSP Capital Management Group LLC lifted its stake in Novavax by 23.9% in the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after purchasing an additional 265,250 shares in the last quarter. Swiss National Bank increased its holdings in shares of Novavax by 17.1% in the first quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 30,800 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Novavax during the first quarter worth approximately $1,499,000. Headlands Technologies LLC boosted its stake in Novavax by 1,084.0% during the first quarter. Headlands Technologies LLC now owns 55,137 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 50,480 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Novavax by 29.9% in the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,570 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.