BidaskClub upgraded shares of Novavax (NASDAQ:NVAX) from a hold rating to a buy rating in a research report report published on Wednesday.
Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Novavax from an underweight rating to an overweight rating and increased their target price for the company from $2.00 to $2.25 in a research note on Friday, September 21st. Zacks Investment Research raised shares of Novavax from a hold rating to a buy rating and set a $1.50 target price on the stock in a research note on Tuesday, August 14th. B. Riley set a $10.00 target price on shares of Novavax and gave the company a buy rating in a research note on Monday, October 8th. Cantor Fitzgerald set a $2.00 target price on shares of Novavax and gave the company a hold rating in a research note on Wednesday, September 26th. Finally, Piper Jaffray Companies raised shares of Novavax from a neutral rating to an overweight rating in a research note on Monday, November 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $3.36.
Novavax stock traded down $0.02 during mid-day trading on Wednesday, reaching $2.01. 2,527,546 shares of the company’s stock traded hands, compared to its average volume of 5,510,845. The company has a market cap of $777.19 million, a price-to-earnings ratio of -3.19 and a beta of 2.49. Novavax has a 12-month low of $1.05 and a 12-month high of $2.75.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The business had revenue of $7.70 million for the quarter, compared to analysts’ expectations of $9.63 million. During the same period in the previous year, the company earned ($0.15) EPS. Novavax’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Novavax will post -0.52 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Novavax by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 22,331,455 shares of the biopharmaceutical company’s stock worth $41,982,000 after buying an additional 1,291,644 shares during the period. Baker BROS. Advisors LP purchased a new position in Novavax in the 3rd quarter worth about $8,870,000. Northern Trust Corp increased its stake in Novavax by 22.0% in the 2nd quarter. Northern Trust Corp now owns 4,429,972 shares of the biopharmaceutical company’s stock worth $5,935,000 after buying an additional 797,965 shares during the period. Pictet Asset Management Ltd. purchased a new position in Novavax in the 3rd quarter worth about $5,619,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Novavax by 40.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,146,438 shares of the biopharmaceutical company’s stock worth $2,877,000 after buying an additional 622,908 shares during the period. 40.87% of the stock is currently owned by institutional investors.
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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