Brokerages Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $17.83

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.83.

Several analysts have commented on the company. Jefferies Financial Group dropped their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. B. Riley reissued a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVAX. Shah Capital Management boosted its stake in Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. State Street Corp lifted its stake in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 shares in the last quarter. Geode Capital Management LLC boosted its position in Novavax by 9.5% during the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after acquiring an additional 304,159 shares during the last quarter. Bank of Montreal Can grew its stake in Novavax by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after acquiring an additional 517,727 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Novavax by 48.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after acquiring an additional 656,900 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Price Performance

NVAX opened at $7.93 on Tuesday. The firm has a fifty day moving average price of $8.82 and a 200 day moving average price of $11.47. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The stock has a market cap of $1.27 billion, a P/E ratio of -3.51 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The firm had revenue of $84.51 million during the quarter, compared to analyst estimates of $65.80 million. During the same quarter last year, the company posted ($1.26) EPS. The company’s revenue was down 54.8% on a year-over-year basis. Equities analysts expect that Novavax will post -1.44 EPS for the current year.

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.