Novavax (NASDAQ:NVAX) has been given a $10.00 price target by equities researchers at HC Wainwright in a research note issued to investors on Thursday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 94.17% from the stock’s current price.
Several other equities research analysts have also weighed in on NVAX. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Thursday, May 16th. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. ValuEngine upgraded Novavax from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Cantor Fitzgerald set a $20.00 target price on Novavax and gave the stock a “hold” rating in a report on Tuesday, March 19th. Finally, Chardan Capital reissued a “neutral” rating and issued a $7.00 target price on shares of Novavax in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $40.00.
NVAX opened at $5.15 on Thursday. Novavax has a 52-week low of $4.64 and a 52-week high of $51.60. The company has a market cap of $122.04 million, a PE ratio of -0.52 and a beta of 2.31.
Novavax (NASDAQ:NVAX) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.40) by $0.20. The business had revenue of $3.98 million for the quarter, compared to analysts’ expectations of $4.80 million. During the same period last year, the firm posted ($2.80) earnings per share. As a group, sell-side analysts anticipate that Novavax will post -6.93 EPS for the current fiscal year.
In other news, Director Rachel K. King purchased 86,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average cost of $0.53 per share, with a total value of $45,580.00. Following the completion of the purchase, the director now owns 42,000 shares in the company, valued at $22,260. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in NVAX. DAVENPORT & Co LLC grew its stake in shares of Novavax by 400.0% during the 1st quarter. DAVENPORT & Co LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 40,000 shares during the period. Wedbush Securities Inc. grew its position in shares of Novavax by 102.1% during the 1st quarter. Wedbush Securities Inc. now owns 54,444 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 27,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Novavax by 131.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,729 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 9,515 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Novavax by 79.0% during the first quarter. Great West Life Assurance Co. Can now owns 59,081 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 26,081 shares during the last quarter. Finally, Opti Capital Management LP purchased a new stake in shares of Novavax in the 4th quarter valued at approximately $39,000.
Novavax Company Profile
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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