Novavax (NASDAQ:NVAX) has been assigned a $2.25 price objective by equities research analysts at B. Riley in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price objective suggests a potential upside of 74.42% from the stock’s previous close.
Several other research firms have also recently issued reports on NVAX. Citigroup raised Novavax from a “neutral” rating to a “buy” rating and set a $2.00 target price on the stock in a research note on Tuesday, October 31st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Novavax in a research report on Friday, October 6th. BidaskClub raised Novavax from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Zacks Investment Research cut Novavax from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $2.00 price objective on shares of Novavax in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Novavax has an average rating of “Hold” and a consensus target price of $2.89.
Novavax (NASDAQ:NVAX) traded down $0.03 during midday trading on Friday, hitting $1.29. The company had a trading volume of 3,560,000 shares, compared to its average volume of 6,690,000. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of -4.28. The company has a market capitalization of $404.56, a PE ratio of -1.90 and a beta of 2.03. Novavax has a 12 month low of $0.73 and a 12 month high of $1.78.
Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $8.35 million during the quarter, compared to the consensus estimate of $6.42 million. The firm’s revenue for the quarter was up 158.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) earnings per share. equities analysts anticipate that Novavax will post -0.62 EPS for the current year.
In other news, insider Stanley C. Erck acquired 100,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $1.13 per share, with a total value of $113,000.00. Following the transaction, the insider now owns 228,279 shares in the company, valued at approximately $257,955.27. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NVAX. Schwab Charles Investment Management Inc. boosted its position in Novavax by 39.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock valued at $1,328,000 after acquiring an additional 326,415 shares in the last quarter. Rhumbline Advisers boosted its position in Novavax by 7.2% during the 2nd quarter. Rhumbline Advisers now owns 346,968 shares of the biopharmaceutical company’s stock valued at $399,000 after acquiring an additional 23,410 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in Novavax during the 2nd quarter valued at approximately $230,000. Bank of New York Mellon Corp boosted its position in Novavax by 14.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,391,610 shares of the biopharmaceutical company’s stock valued at $1,600,000 after acquiring an additional 176,510 shares in the last quarter. Finally, Federated Investors Inc. PA bought a new stake in Novavax during the 2nd quarter valued at approximately $232,000. 36.78% of the stock is currently owned by institutional investors and hedge funds.
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Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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