Chardan Capital Reiterates “Neutral” Rating for Novavax (NVAX)

Novavax (NASDAQ:NVAX)‘s stock had its “neutral” rating reaffirmed by Chardan Capital in a research note issued to investors on Friday, May 10th, AnalystRatings.com reports. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s price objective would suggest a potential upside of 18.64% from the stock’s previous close.

NVAX has been the topic of several other research reports. Zacks Investment Research cut Novavax from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. HC Wainwright began coverage on Novavax in a research note on Monday, January 28th. They issued a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. cut Novavax from an “overweight” rating to an “underweight” rating in a research note on Thursday, February 28th. BidaskClub cut Novavax from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $40.00 target price on shares of Novavax in a research note on Tuesday, January 29th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $43.00.

Shares of NVAX traded down $0.53 on Friday, hitting $5.90. The company’s stock had a trading volume of 2,036,125 shares, compared to its average volume of 1,097,176. The firm has a market capitalization of $138.49 million, a PE ratio of -0.59 and a beta of 1.98. Novavax has a fifty-two week low of $5.72 and a fifty-two week high of $51.60.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.40) by $0.20. The firm had revenue of $3.98 million during the quarter, compared to the consensus estimate of $4.80 million. During the same quarter in the previous year, the firm posted ($2.80) EPS. As a group, research analysts anticipate that Novavax will post -6.94 EPS for the current fiscal year.

In related news, Director Rachel K. King acquired 86,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average price of $0.53 per share, for a total transaction of $45,580.00. Following the purchase, the director now directly owns 42,000 shares in the company, valued at approximately $22,260. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. DAVENPORT & Co LLC raised its stake 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 purchasing an additional 40,000 shares in the last quarter. Wedbush Securities Inc. raised its stake 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 purchasing an additional 27,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 purchasing an additional 9,515 shares in the last quarter. Great West Life Assurance Co. Can raised its stake 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 purchasing an additional 26,081 shares in the last quarter. Finally, Opti Capital Management LP bought a new stake in shares of Novavax during the 4th quarter worth approximately $39,000. Institutional investors own 32.82% of the company’s stock.

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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