Novavax, Inc. (NASDAQ:NVAX) Receives Average Rating of "Hold" from Brokerages

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.00.

Several brokerages have recently commented on NVAX. Citigroup began coverage on shares of Novavax in a report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 target price for the company. B. Riley reiterated a "buy" rating on shares of Novavax in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Novavax from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, May 9th.

Novavax Price Performance

Shares of NVAX stock traded down $0.26 on Friday, hitting $6.84. The stock had a trading volume of 3,956,922 shares, compared to its average volume of 6,281,633. The business has a 50 day moving average of $6.80 and a 200 day moving average of $7.42. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 2.58, a price-to-earnings-growth ratio of 0.06 and a beta of 2.69. Novavax has a 12-month low of $5.01 and a 12-month high of $17.81.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 EPS for the quarter, beating the consensus estimate of $0.71 by $2.22. The company had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. Novavax had a net margin of 38.14% and a negative return on equity of 115.51%. The firm's revenue for the quarter was up 610.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.05) earnings per share. As a group, research analysts expect that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Trading of Novavax

Several institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in Novavax during the 4th quarter valued at about $27,000. New Age Alpha Advisors LLC bought a new position in Novavax during the 4th quarter valued at about $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Novavax during the 1st quarter valued at about $71,000. Wealth Enhancement Advisory Services LLC bought a new position in Novavax during the 2nd quarter valued at about $73,000. Finally, GAMMA Investing LLC lifted its stake in Novavax by 2,272.5% during the 1st quarter. GAMMA Investing LLC now owns 11,839 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 11,340 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

About Novavax

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.