Novavax (NASDAQ:NVAX)‘s stock had its “hold” rating restated by Cantor Fitzgerald in a research note issued to investors on Thursday, March 15th. They currently have a $2.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential downside of 0.99% from the company’s current price.
The analysts wrote, “NanoFlu seasonal flu vaccine could be just what the Dr. ordered. The mismatch of commercially available (egg-production-based) seasonal flu vaccines in the current season underscores the theoretical utility of NVAX’s vaccine production technology. Avoiding influenza virus propagation in eggs could reduce the need for egg adaptation and possible generation of virus particles that do not faithfully resemble the wild type viruses recommended by health organizations for inclusion in flu vaccines. Particularly when prevailing strains are highly pathogenic, e.g., H3N2, having a better matched flu vaccine would seem to be desirable, in our view.””
A number of other equities analysts have also commented on NVAX. Piper Jaffray boosted their price objective on shares of Novavax to $2.50 and gave the stock a “neutral” rating in a report on Thursday, March 1st. B. Riley set a $10.00 target price on shares of Novavax and gave the stock a “buy” rating in a research report on Thursday, January 11th. Chardan Capital reissued a “hold” rating on shares of Novavax in a research report on Thursday, March 1st. Zacks Investment Research downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Finally, BidaskClub raised shares of Novavax from a “hold” rating to a “buy” rating in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Novavax presently has a consensus rating of “Hold” and a consensus price target of $3.43.
Shares of NASDAQ:NVAX traded down $0.04 during midday trading on Thursday, hitting $2.02. 4,817,128 shares of the company’s stock traded hands, compared to its average volume of 6,955,319. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of -3.12. The firm has a market capitalization of $708.11, a price-to-earnings ratio of -3.21 and a beta of 2.38. Novavax has a twelve month low of $0.73 and a twelve month high of $2.75.
Novavax (NASDAQ:NVAX) last posted its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.01). The company had revenue of $10.40 million for the quarter, compared to analyst estimates of $7.98 million. During the same quarter last year, the firm earned ($0.21) EPS. The company’s quarterly revenue was up 92.6% on a year-over-year basis. analysts predict that Novavax will post -0.57 earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. Northern Trust Corp grew its position in shares of Novavax by 2.8% during the 2nd quarter. Northern Trust Corp now owns 3,376,714 shares of the biopharmaceutical company’s stock valued at $3,883,000 after buying an additional 92,854 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Novavax by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 2,945,721 shares of the biopharmaceutical company’s stock valued at $3,652,000 after buying an additional 446,318 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Novavax by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,815,565 shares of the biopharmaceutical company’s stock valued at $3,491,000 after buying an additional 105,611 shares during the last quarter. Deutsche Bank AG grew its position in shares of Novavax by 6.3% during the 4th quarter. Deutsche Bank AG now owns 2,567,169 shares of the biopharmaceutical company’s stock valued at $3,182,000 after buying an additional 152,974 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its position in shares of Novavax by 143.9% during the 4th quarter. Rock Springs Capital Management LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $2,480,000 after buying an additional 1,180,000 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.
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Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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