Novavax, Inc. (NASDAQ:NVAX) Receives $17.83 Consensus PT from Analysts

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has received a consensus rating of "Hold" from the six analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.83.

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Monday, August 12th. Finally, B. Riley reaffirmed a "buy" rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th.

Novavax Trading Down 2.5 %

NASDAQ:NVAX traded down $0.23 during mid-day trading on Monday, hitting $9.12. The stock had a trading volume of 4,244,969 shares, compared to its average volume of 9,890,214. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.32 and a beta of 2.10. The company has a 50 day simple moving average of $11.92 and a 200-day simple moving average of $12.20.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.82 by ($0.83). The business had revenue of $415.50 million for the quarter, compared to the consensus estimate of $458.57 million. During the same quarter last year, the business earned $0.58 EPS. The company's quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Novavax will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shah Capital Management grew its position in Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock valued at $122,322,000 after purchasing an additional 1,544,263 shares in the last quarter. SG Americas Securities LLC lifted its stake in Novavax by 940.7% in the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company's stock valued at $14,579,000 after acquiring an additional 1,043,363 shares during the last quarter. Farallon Capital Management LLC acquired a new stake in Novavax in the first quarter valued at approximately $5,406,000. Renaissance Technologies LLC acquired a new stake in Novavax in the second quarter valued at approximately $14,055,000. Finally, Bank of New York Mellon Corp lifted its stake in Novavax by 34.3% in the second quarter. Bank of New York Mellon Corp now owns 533,942 shares of the biopharmaceutical company's stock valued at $6,760,000 after acquiring an additional 136,472 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.