Novavax, Inc. (NASDAQ:NVAX) Stock Has Average Price Target of $14.00 According to Brokerages

Key Points

• Analysts have an average “Hold” rating on Novavax, with five buy, two hold, and two sell recommendations. The average 12-month price target is $14.00, compared with the stock’s reported price of $10.46.
• Institutional investors own 53.04% of Novavax shares, with several firms initiating or increasing positions during the second quarter.
• Novavax exceeded quarterly earnings and revenue expectations, reporting an adjusted loss of $0.32 per share and $56.7 million in revenue. However, revenue declined 76.2% year over year, and the company continued to post negative profitability metrics.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has earned an average recommendation of "Hold" from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $14.00.

A number of research analysts have recently issued reports on NVAX shares. BTIG Research reaffirmed a "buy" rating and set a $19.00 price objective on shares of Novavax in a research note on Thursday, June 11th. Weiss Ratings restated a "sell (d)" rating on shares of Novavax in a research report on Tuesday, August 4th. Wall Street Zen raised Novavax from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, Zacks Research lowered Novavax from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th.

Institutional Investors Weigh In On Novavax

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Novavax in the second quarter valued at about $42,000. Squarepoint Ops LLC purchased a new stake in Novavax in the 2nd quarter worth approximately $1,258,000. Allworth Financial LP increased its stake in shares of Novavax by 292.5% during the second quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company's stock valued at $41,000 after buying an additional 3,244 shares during the period. Corient Private Wealth LP purchased a new position in shares of Novavax during the second quarter valued at approximately $155,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Novavax during the second quarter valued at approximately $739,000. Institutional investors own 53.04% of the company's stock.

Novavax Stock Performance

NVAX stock opened at $10.46 on Monday. The firm has a 50 day moving average of $9.15 and a 200-day moving average of $9.03. The firm has a market capitalization of $1.73 billion, a P/E ratio of -6.88 and a beta of 2.44. Novavax has a 12 month low of $6.20 and a 12 month high of $11.97.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.06. The business had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. Novavax had a negative net margin of 59.87% and a negative return on equity of 14.82%. Novavax's revenue was down 76.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Sell-side analysts predict that Novavax will post -0.46 EPS for the current year.

Novavax Company Profile

Novavax, Inc is a biotechnology company focused on the discovery, development and commercialization of vaccines. The company uses its recombinant protein-based vaccine platform and Matrix-M adjuvant technology to develop vaccines designed to stimulate targeted immune responses.

Novavax's principal commercial product is its protein-based COVID-19 vaccine, marketed in various regions under the Nuvaxovid or Novavax COVID-19 Vaccine name. The vaccine has been authorized or approved in multiple markets, including the United States, Europe and other international jurisdictions, with availability and regulatory status varying by country.

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