Novavax, Inc. (NASDAQ:NVAX – Get Rating) has been assigned a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $84.17.
NVAX has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $110.00 target price on shares of Novavax in a research report on Monday, February 13th. B. Riley cut Novavax from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 1st. Finally, StockNews.com initiated coverage on shares of Novavax in a research note on Thursday, March 16th. They set a “sell” rating for the company.
Institutional Investors Weigh In On Novavax
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Novavax by 2.0% in the third quarter. Vanguard Group Inc. now owns 7,495,924 shares of the biopharmaceutical company’s stock worth $136,426,000 after buying an additional 144,999 shares in the last quarter. State Street Corp raised its position in Novavax by 23.2% in the 3rd quarter. State Street Corp now owns 3,655,428 shares of the biopharmaceutical company’s stock worth $66,529,000 after purchasing an additional 688,564 shares during the period. Renaissance Technologies LLC lifted its stake in Novavax by 220.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,821,683 shares of the biopharmaceutical company’s stock worth $29,007,000 after purchasing an additional 1,941,100 shares during the last quarter. VR Adviser LLC bought a new position in shares of Novavax during the fourth quarter valued at approximately $19,325,000. Finally, Millennium Management LLC grew its holdings in shares of Novavax by 194.1% in the fourth quarter. Millennium Management LLC now owns 1,550,662 shares of the biopharmaceutical company’s stock worth $15,941,000 after purchasing an additional 1,023,328 shares during the last quarter. Institutional investors own 45.70% of the company’s stock.
Novavax Trading Up 11.5 %
NVAX opened at $8.46 on Monday. The company has a market cap of $729.00 million, a PE ratio of -1.01 and a beta of 1.73. The company has a 50 day moving average of $8.21 and a 200 day moving average of $13.52. Novavax has a 12 month low of $5.61 and a 12 month high of $76.77.
Novavax (NASDAQ:NVAX – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($2.28) EPS for the quarter, missing the consensus estimate of ($0.92) by ($1.36). The business had revenue of $357.40 million for the quarter, compared to analysts’ expectations of $383.14 million. Novavax’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period last year, the firm posted ($11.18) earnings per share. Research analysts forecast that Novavax will post -5.66 earnings per share for the current fiscal year.
About Novavax
Novavax, Inc Is a biotechnology company, which engages in the discovery, development, and commercialization of recombinant vaccines. The company was founded in 1987 and is headquartered in Gaithersburg, MD.