Novavax (NASDAQ:NVAX) Upgraded by TD Cowen to "Hold" Rating

Novavax (NASDAQ:NVAX - Get Free Report) was upgraded by TD Cowen to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also issued reports on NVAX. BTIG Research initiated coverage on shares of Novavax in a research report on Friday, February 28th. They set a "buy" rating and a $19.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $19.00 price objective on shares of Novavax in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.00.

Novavax Stock Up 2.7 %

NVAX traded up $0.21 during mid-day trading on Thursday, reaching $7.89. 3,768,530 shares of the company traded hands, compared to its average volume of 8,130,069. The stock has a market capitalization of $1.26 billion, a P/E ratio of -3.49, a P/E/G ratio of 2.85 and a beta of 2.14. Novavax has a 52-week low of $3.81 and a 52-week high of $23.86. The company's fifty day moving average price is $8.48 and its 200-day moving average price is $9.88.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to the consensus estimate of $85.48 million. During the same period in the prior year, the company posted ($1.44) EPS. As a group, sell-side analysts forecast that Novavax will post -1.46 earnings per share for the current fiscal year.

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Insider Activity

In other Novavax news, Director Rachel K. King sold 4,150 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the sale, the director now owns 14,770 shares in the company, valued at approximately $133,225.40. This represents a 21.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James F. Young sold 4,600 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $8.48, for a total value of $39,008.00. Following the completion of the transaction, the director now owns 57,160 shares in the company, valued at $484,716.80. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock worth $119,641 in the last three months. Company insiders own 1.00% of the company's stock.

Institutional Trading of Novavax

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Novavax by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 15,726,250 shares of the biopharmaceutical company's stock valued at $126,439,000 after purchasing an additional 296,181 shares in the last quarter. Shah Capital Management raised its position in shares of Novavax by 13.6% during the 4th quarter. Shah Capital Management now owns 11,148,846 shares of the biopharmaceutical company's stock valued at $89,637,000 after buying an additional 1,333,305 shares in the last quarter. State Street Corp raised its position in shares of Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock valued at $97,099,000 after buying an additional 1,621,772 shares in the last quarter. Sanofi bought a new position in shares of Novavax in the 4th quarter valued at about $55,319,000. Finally, Geode Capital Management LLC increased its stake in Novavax by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,657,695 shares of the biopharmaceutical company's stock worth $29,415,000 after acquiring an additional 155,206 shares during the last quarter. Institutional investors own 53.04% of the company's stock.

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.