Novavax, Inc. (NASDAQ:NVAX) Given Average Rating of "Hold" by Brokerages

Key Points

• Novavax has a consensus “Hold” rating from nine analysts: five buys, two holds, and two sells. The average 12-month price target is $14.00, above the reported share price of $9.85.
• Institutional investors own 53.04% of Novavax, with recent activity including new stakes from Bank of New York Mellon, Edgestream Partners, and Renaissance Technologies, while Vanguard increased its position by 1.8%.
• Novavax exceeded quarterly EPS and revenue estimates, reporting a loss of $0.32 per share and revenue of $56.7 million. However, revenue fell 76.2% year over year, and the company continues to post negative margins and return on equity.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.00.

Several brokerages have issued reports on NVAX. Weiss Ratings reissued a "sell (d)" rating on shares of Novavax in a research note on Tuesday, August 4th. Zacks Research downgraded Novavax from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. BTIG Research reiterated a "buy" rating and issued a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Novavax from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVAX. Bank of New York Mellon Corp bought a new position in shares of Novavax during the 2nd quarter valued at about $8,004,000. Vanguard Group Inc. lifted its position in shares of Novavax by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company's stock valued at $103,961,000 after acquiring an additional 275,802 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Novavax in the first quarter valued at $4,234,000. Renaissance Technologies LLC purchased a new stake in shares of Novavax in the first quarter valued at $4,049,000. Finally, Monaco Asset Management SAM boosted its position in shares of Novavax by 161.3% in the fourth quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company's stock worth $7,022,000 after buying an additional 645,000 shares during the period. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Trading Down 3.3%

Shares of NASDAQ NVAX opened at $9.85 on Thursday. Novavax has a 12-month low of $6.20 and a 12-month high of $11.97. The firm's 50-day moving average price is $8.63 and its 200-day moving average price is $9.01. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.48 and a beta of 2.45.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.06. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.51 million. During the same period last year, the company earned $0.62 earnings per share. Novavax's revenue was down 76.2% on a year-over-year basis. On average, equities analysts predict that Novavax will post -0.47 EPS for the current fiscal year.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.