Novavax's (NVAX) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Novavax (NASDAQ:NVAX - Free Report) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $19.00 target price on the biopharmaceutical company's stock.

A number of other equities research analysts also recently commented on NVAX. JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Monday, August 12th. B. Riley restated a "buy" rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.83.

Novavax Price Performance

Shares of NVAX traded down $0.55 during trading hours on Tuesday, hitting $8.46. The stock had a trading volume of 10,682,583 shares, compared to its average volume of 9,812,083. The firm has a market capitalization of $1.35 billion, a PE ratio of -3.14 and a beta of 2.10. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The stock has a fifty day moving average price of $11.61 and a 200 day moving average price of $12.41.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Shah Capital Management raised its holdings in shares of Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock valued at $122,322,000 after buying an additional 1,544,263 shares in the last quarter. Farallon Capital Management LLC purchased a new position in shares of Novavax during the 1st quarter valued at about $5,406,000. Renaissance Technologies LLC purchased a new position in Novavax in the second quarter worth approximately $14,055,000. SG Americas Securities LLC raised 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 buying an additional 1,043,363 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Novavax in the 2nd quarter valued at approximately $4,592,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

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.