Analysts Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $151.00

Novavax, Inc. (NASDAQ:NVAX – Get Rating) has been given an average recommendation of “Hold” by the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $151.00.

A number of research analysts have issued reports on NVAX shares. Cantor Fitzgerald boosted their price objective on shares of Novavax from $146.00 to $168.00 in a research report on Wednesday, June 8th. Cowen reduced their price objective on shares of Novavax to $110.00 in a research report on Monday, August 15th. Cowen reduced their price objective on shares of Novavax from $150.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 9th. B. Riley reduced their price objective on shares of Novavax from $181.00 to $171.00 in a research report on Friday, July 22nd. Finally, Bank of America started coverage on shares of Novavax in a research report on Friday, May 20th. They set an “underperform” rating and a $35.00 price objective on the stock.

Novavax Stock Down 2.9 %

Shares of NASDAQ NVAX opened at $35.22 on Friday. Novavax has a 52 week low of $34.56 and a 52 week high of $277.80. The firm’s fifty day moving average is $51.82 and its 200 day moving average is $58.43. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -1.81, a PEG ratio of 0.05 and a beta of 1.52.

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Novavax (NASDAQ:NVAX – Get Rating) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($6.53) EPS for the quarter, missing the consensus estimate of $5.51 by ($12.04). Novavax had a negative return on equity of 572.54% and a negative net margin of 114.32%. The firm had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned ($4.75) earnings per share. The firm’s quarterly revenue was down 37.6% compared to the same quarter last year. Equities research analysts anticipate that Novavax will post 20.98 earnings per share for the current year.

Institutional Trading of Novavax

Hedge funds and other institutional investors have recently modified their holdings of the business. DB Wealth Management Group LLC purchased a new stake in shares of Novavax in the 4th quarter worth about $29,000. San Luis Wealth Advisors LLC bought a new position in Novavax in the 1st quarter worth about $29,000. Charter Oak Capital Management LLC boosted its stake in Novavax by 705.3% in the 4th quarter. Charter Oak Capital Management LLC now owns 306 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 268 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Novavax by 62.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 386 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 149 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in Novavax in the 2nd quarter worth about $27,000. 42.63% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company’s vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.