Novavax, Inc. (NVAX) Given Average Recommendation of “Hold” by Analysts

Novavax, Inc. (NASDAQ:NVAX) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $3.32.

NVAX has been the topic of a number of analyst reports. BidaskClub cut Novavax from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. HC Wainwright initiated coverage on Novavax in a research note on Monday, January 28th. They set a “buy” rating and a $6.00 price objective on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price objective on shares of Novavax in a research note on Tuesday, January 29th. Zacks Investment Research cut Novavax from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Finally, Piper Jaffray Companies cut Novavax from an “overweight” rating to an “underweight” rating in a research note on Thursday, February 28th.

Shares of Novavax stock traded up $6.20 on Friday, reaching $6.56. 683,995 shares of the company were exchanged, compared to its average volume of 15,162,807. Novavax has a one year low of $0.34 and a one year high of $2.58. The stock has a market cap of $168.77 million, a P/E ratio of -13.12 and a beta of 1.98.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The company had revenue of $3.98 million for the quarter, compared to the consensus estimate of $4.80 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Analysts forecast that Novavax will post -0.39 earnings per share for the current fiscal year.

In other Novavax news, Director Rachel K. King bought 86,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were acquired at an average cost of $0.53 per share, with a total value of $45,580.00. Following the acquisition, the director now owns 42,000 shares of the company’s stock, valued at $22,260. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of NVAX. DAVENPORT & Co LLC increased its holdings in shares of Novavax by 400.0% during the 1st quarter. DAVENPORT & Co LLC now owns 50,000 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 40,000 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Novavax by 102.1% during the 1st quarter. Wedbush Securities Inc. now owns 54,444 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 27,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Novavax by 131.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,729 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 9,515 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Novavax by 79.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,081 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 26,081 shares during the last quarter. Finally, Opti Capital Management LP acquired a new position in shares of Novavax during the 4th quarter worth approximately $39,000. 33.95% of the stock is currently owned by institutional investors and hedge funds.

About Novavax

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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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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