Research Analysts’ Recent Ratings Changes for Novavax (NVAX)

Novavax (NASDAQ: NVAX) has recently received a number of price target changes and ratings updates:

  • 5/13/2019 – Novavax had its price target raised by analysts at Oppenheimer Holdings Inc. from $1.25 to $25.00.
  • 5/10/2019 – Novavax was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 5/10/2019 – Novavax had its “neutral” rating reaffirmed by analysts at Chardan Capital. They now have a $7.00 price target on the stock.
  • 5/10/2019 – Novavax was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
  • 5/9/2019 – Novavax had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They wrote, “Our Neutral rating for NVAX stock is based on the uncertainty as to how the company’s technologies will be applied in the successful development of proprietary vaccines and where or how NVAX will access the capital necessary to realize that potential. Positive data for vaccine candidates would be a catalyst for share price appreciation, in our view. Valuation Summary We estimate the aggregate technical value of the programs to be higher than the current market price, but question where/how NVAX could access capital to realize that value.””
  • 5/7/2019 – Novavax was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
  • 5/3/2019 – Novavax had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $40.00 price target on the stock. They wrote, “We reiterate our Buy rating and price target of $2 (derived using DCF methodology with a 30% discount rate, 2% terminal growth rate, and 85% clinical program probability-of-success). Risks to our investment thesis include failure of clinical trials, regulatory requirements for additional clinical studies, unproven commercialization strategy, failure of products to show sufficient differentiation in targeted therapeutic indications, patent expiry or invalidation, and potential to raise additional funds under poor market conditions. Novavax, Inc.””
  • 4/2/2019 – Novavax was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
  • 3/22/2019 – Novavax was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $15.00 price target on the stock. According to Zacks, “NOVAVAX INC is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on women’s health and infectious diseases. Their technology platforms involve the use of proprietary, microscopic, organized, non-phospholipid structures as vehicles for the delivery of a wide variety of drugs and other therapeutic products, including certain hormones, anti-bacterial and anti-viral products and vaccine adjuvants. “
  • 3/21/2019 – Novavax was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/19/2019 – Novavax was given a new $20.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 3/19/2019 – Novavax had its price target raised by analysts at HC Wainwright from $40.00 to $42.60. They now have a “buy” rating on the stock.

NASDAQ:NVAX traded down $0.44 during mid-day trading on Wednesday, hitting $6.69. 2,141,634 shares of the stock were exchanged, compared to its average volume of 848,017. The stock has a market cap of $157.03 million, a P/E ratio of -0.67 and a beta of 1.98. Novavax, Inc. has a fifty-two week low of $5.72 and a fifty-two week high of $51.60.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.40) by $0.20. The firm had revenue of $3.98 million for the quarter, compared to analyst estimates of $4.80 million. During the same period in the previous year, the business posted ($2.80) earnings per share. As a group, equities research analysts predict that Novavax, Inc. will post -7.31 earnings per share for the current fiscal year.

In related news, Director Rachel K. King acquired 86,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was purchased at an average cost of $0.53 per share, with a total value of $45,580.00. Following the acquisition, the director now directly owns 42,000 shares of the company’s stock, valued at $22,260. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NVAX. Two Sigma Investments LP raised its holdings in Novavax by 223.6% in the 4th quarter. Two Sigma Investments LP now owns 3,282,564 shares of the biopharmaceutical company’s stock valued at $6,040,000 after acquiring an additional 2,268,080 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Novavax by 470.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,417,664 shares of the biopharmaceutical company’s stock valued at $1,332,000 after purchasing an additional 1,993,697 shares during the last quarter. Millennium Management LLC increased its stake in shares of Novavax by 127.8% in the 4th quarter. Millennium Management LLC now owns 2,934,275 shares of the biopharmaceutical company’s stock valued at $5,399,000 after purchasing an additional 1,645,934 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Novavax by 6.1% in the 3rd quarter. Vanguard Group Inc now owns 22,331,455 shares of the biopharmaceutical company’s stock valued at $41,982,000 after purchasing an additional 1,291,644 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Novavax by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 22,331,455 shares of the biopharmaceutical company’s stock valued at $41,982,000 after purchasing an additional 1,291,644 shares during the last quarter. 32.82% of the stock is owned by hedge funds and other institutional investors.

Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.

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