Novavax's (NVAX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Novavax (NASDAQ:NVAX - Free Report) in a research report released on Monday morning, Benzinga reports. HC Wainwright currently has a $19.00 target price on the biopharmaceutical company's stock.

A number of other research analysts also recently commented on the company. Bank of America upgraded Novavax from an underperform rating to a neutral rating and increased their target price for the company from $4.00 to $12.00 in a research report on Friday. JPMorgan Chase & Co. raised shares of Novavax from an underweight rating to a neutral rating in a research note on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $14.00.

Novavax Trading Up 47.6 %

NVAX traded up $4.23 during trading on Monday, hitting $13.11. 123,035,859 shares of the company traded hands, compared to its average volume of 10,132,330. The company has a market cap of $1.84 billion, a PE ratio of -4.14 and a beta of 1.63. Novavax has a 1 year low of $3.53 and a 1 year high of $13.97. The stock's 50-day simple moving average is $4.88 and its two-hundred day simple moving average is $5.03.

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

Institutional Investors Weigh In On Novavax

Several institutional investors have recently made changes to their positions in NVAX. Coatue Management LLC bought a new position in Novavax in the fourth quarter worth approximately $7,294,000. Shah Capital Management boosted its stake in shares of Novavax by 22.9% during the fourth 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. Vanguard Group Inc. increased its holdings in Novavax by 9.3% during the third quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company's stock valued at $83,633,000 after buying an additional 978,873 shares during the period. Rafferty Asset Management LLC lifted its holdings in Novavax by 62.4% during the fourth quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company's stock worth $7,737,000 after buying an additional 619,370 shares during the period. Finally, TSP Capital Management Group LLC boosted its position in Novavax by 162.8% during the 3rd quarter. TSP Capital Management Group LLC now owns 966,350 shares of the biopharmaceutical company's stock valued at $6,996,000 after acquiring an additional 598,600 shares in the last quarter. Institutional investors 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.