Novavax (NASDAQ:NVAX) had its price target upped by equities research analysts at B. Riley from $74.00 to $106.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price target indicates a potential upside of 27.17% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. HC Wainwright raised their price objective on shares of Novavax from $50.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday. ValuEngine upgraded shares of Novavax from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Oppenheimer raised their target price on shares of Novavax from $19.00 to $38.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. BidaskClub upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating and set a $46.00 target price on the stock in a research report on Friday, June 5th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Novavax has an average rating of “Buy” and an average price target of $62.81.
Shares of NVAX opened at $83.35 on Monday. The firm has a 50 day simple moving average of $52.41 and a 200-day simple moving average of $20.81. Novavax has a 1-year low of $3.54 and a 1-year high of $89.50. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -20.13 and a beta of 1.33.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.67) by $0.09. The business had revenue of $3.38 million for the quarter, compared to analysts’ expectations of $3.50 million. During the same period last year, the business earned ($2.20) earnings per share. On average, equities analysts expect that Novavax will post -0.57 earnings per share for the current year.
In related news, Director James F. Young purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $48.83 per share, for a total transaction of $73,245.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory M. Glenn sold 16,749 shares of Novavax stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $59.53, for a total transaction of $997,067.97. Following the completion of the transaction, the insider now owns 18,588 shares in the company, valued at approximately $1,106,543.64. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NVAX. State Street Corp raised its stake in shares of Novavax by 35.7% in the 1st quarter. State Street Corp now owns 579,632 shares of the biopharmaceutical company’s stock valued at $7,871,000 after acquiring an additional 152,556 shares during the period. Invesco Ltd. purchased a new position in shares of Novavax in the 1st quarter valued at $7,097,000. JPMorgan Chase & Co. raised its stake in shares of Novavax by 58.4% in the 1st quarter. JPMorgan Chase & Co. now owns 434,526 shares of the biopharmaceutical company’s stock valued at $5,900,000 after acquiring an additional 160,205 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Novavax by 131.1% in the 1st quarter. Nuveen Asset Management LLC now owns 189,510 shares of the biopharmaceutical company’s stock valued at $2,574,000 after acquiring an additional 107,517 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Novavax by 27.7% in the 1st quarter. Bank of New York Mellon Corp now owns 164,544 shares of the biopharmaceutical company’s stock valued at $2,234,000 after acquiring an additional 35,693 shares during the period. Institutional investors own 22.80% of the company’s stock.
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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