Analysts Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $14.00

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

A number of research firms have recently weighed in on NVAX. TD Cowen increased their price target on Novavax from $5.00 to $10.00 and gave the stock a "hold" rating in a report on Monday. HC Wainwright reiterated a "buy" rating and set a $19.00 price target on shares of Novavax in a research report on Monday. Bank of America upgraded shares of Novavax from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $4.00 to $12.00 in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Novavax from an "underweight" rating to a "neutral" rating in a report on Friday.

Novavax Price Performance

Novavax stock traded up $4.23 during trading on Monday, reaching $13.11. 123,035,859 shares of the company were exchanged, compared to its average volume of 10,132,330. Novavax has a 52-week low of $3.53 and a 52-week high of $13.97. The stock's 50 day simple moving average is $4.73 and its two-hundred day simple moving average is $4.98. The company has a market capitalization of $1.84 billion, a P/E ratio of -4.18 and a beta of 1.63.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.01). The firm had revenue of $93.90 million for the quarter, compared to analyst estimates of $71.32 million. During the same period last year, the business posted ($3.41) earnings per share. Novavax's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that Novavax will post -0.82 earnings per share for the current year.

Institutional Trading of Novavax

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Novavax by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock worth $83,633,000 after buying an additional 978,873 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Novavax by 467.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company's stock valued at $66,000 after purchasing an additional 11,319 shares during the period. Shah Capital Management boosted its holdings in Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company's stock valued at $37,348,000 after purchasing an additional 1,450,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in Novavax during the 4th quarter worth approximately $824,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Novavax by 309.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company's stock worth $437,000 after buying an additional 45,574 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company's stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.