Novavax, Inc. (NVAX) Receives Average Recommendation of “Buy” from Brokerages

Novavax, Inc. (NASDAQ:NVAX) has received a consensus rating of “Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.64.

Several research firms recently issued reports on NVAX. LADENBURG THALM/SH SH set a $4.00 price objective on Novavax and gave the company a “buy” rating in a research note on Friday, January 4th. HC Wainwright began coverage on Novavax in a research note on Monday. They set a “buy” rating and a $6.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Novavax in a research note on Friday, November 23rd. CIBC began coverage on Novavax in a research note on Tuesday, December 11th. They set an “outperform” rating and a $4.00 price objective for the company. Finally, Piper Jaffray Companies lifted their price objective on Novavax to $4.50 and gave the company a “positive” rating in a research note on Thursday, January 3rd.

A number of hedge funds have recently modified their holdings of NVAX. Bank of New York Mellon Corp lifted its stake in Novavax by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 1,720,847 shares of the biopharmaceutical company’s stock worth $2,306,000 after purchasing an additional 201,244 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Novavax by 388.4% in the 2nd quarter. SG Americas Securities LLC now owns 102,003 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 81,117 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Novavax by 40.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,146,438 shares of the biopharmaceutical company’s stock valued at $2,877,000 after acquiring an additional 622,908 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Novavax by 202.7% in the 2nd quarter. Bank of America Corp DE now owns 521,460 shares of the biopharmaceutical company’s stock valued at $698,000 after acquiring an additional 349,209 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Novavax by 34.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 186,126 shares of the biopharmaceutical company’s stock valued at $249,000 after acquiring an additional 47,362 shares during the last quarter. 40.89% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:NVAX opened at $2.18 on Wednesday. The firm has a market cap of $819.30 million, a P/E ratio of -3.46 and a beta of 2.19. Novavax has a 52-week low of $1.15 and a 52-week high of $2.75.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The business had revenue of $7.70 million for the quarter, compared to the consensus estimate of $9.63 million. Novavax’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. On average, equities analysts expect that Novavax will post -0.51 EPS for the current fiscal year.

Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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