Novavax, Inc. (NASDAQ:NVAX) Receives Average Rating of “Hold” from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.00.

NVAX has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Monday, May 13th. Bank of America upped their target price on shares of Novavax from $12.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. TD Cowen upped their target price on shares of Novavax from $5.00 to $10.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. B. Riley upped their target price on shares of Novavax from $11.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating in a research report on Friday, May 10th.

Insider Activity

In other news, Director James F. Young sold 7,500 shares of the stock in a transaction that occurred 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 in the company, valued at $950,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Filip Dubovsky sold 47,312 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 38,953 shares of the company’s stock, valued at $541,446.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James F. Young sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 69,260 shares in the company, valued at approximately $950,247.20. The disclosure for this sale can be found here. Insiders have sold 62,312 shares of company stock worth $866,212 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. Swedbank AB purchased a new position in shares of Novavax during the first quarter valued at approximately $26,000. Herr Investment Group LLC acquired a new position in shares of Novavax in the 1st quarter valued at $48,000. Alpine Global Management LLC purchased a new stake in shares of Novavax during the 1st quarter valued at $49,000. Ameritas Investment Partners Inc. increased its holdings in shares of Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 2,711 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 2,447 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Stock Up 1.3 %

Shares of Novavax stock opened at $12.06 on Tuesday. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The company’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $7.53. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -3.80 and a beta of 1.98.

Novavax (NASDAQ:NVAX) last issued its earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The business had revenue of $93.90 million for the quarter, compared to the consensus estimate of $71.32 million. During the same quarter in the prior year, the firm earned ($3.41) EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Novavax will post 0.49 EPS for the current year.

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.