Novavax (NASDAQ:NVAX) Given New $25.00 Price Target at Jefferies Financial Group

Novavax (NASDAQ:NVAX) had its target price cut by Jefferies Financial Group from $31.00 to $25.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on NVAX. B. Riley reiterated a “buy” rating and set a $26.00 price objective (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Performance

Shares of Novavax stock opened at $10.15 on Wednesday. The company has a market capitalization of $1.43 billion, a PE ratio of -3.20 and a beta of 2.04. The company has a 50-day simple moving average of $12.50 and a two-hundred day simple moving average of $11.67. Novavax has a one year low of $3.53 and a one year high of $23.86.

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

Hedge Funds Weigh In On Novavax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. TSP Capital Management Group LLC grew its stake in Novavax by 23.9% during the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock valued at $6,582,000 after purchasing an additional 265,250 shares during the last quarter. Swiss National Bank boosted its position in 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 buying an additional 30,800 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Novavax in the 1st quarter worth approximately $1,499,000. Headlands Technologies LLC raised its position in Novavax by 1,084.0% during 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. Finally, ProShare Advisors LLC lifted its stake in Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 8,570 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.