Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Consensus Target Price from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has been given a consensus rating of “Hold” by the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.83.

A number of research firms have weighed in on NVAX. B. Riley reaffirmed a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Finally, Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th.

Novavax Price Performance

Shares of NVAX opened at $8.91 on Monday. The business has a 50-day moving average of $11.68 and a 200 day moving average of $12.38. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data 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 company had revenue of $415.50 million during the quarter, compared to the consensus estimate of $458.57 million. The business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. On average, research analysts expect that Novavax will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NVAX. Swiss National Bank grew its holdings in shares of Novavax by 17.1% during the first quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after purchasing an additional 30,800 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Novavax during the first quarter worth about $1,499,000. Headlands Technologies LLC lifted its position in Novavax by 1,084.0% in the 1st 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. ProShare Advisors LLC lifted its position in Novavax by 29.9% in the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 8,570 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in Novavax by 236.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,613 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 58,746 shares during the last quarter. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.