Novavax, Inc. (NASDAQ:NVAX) Given Average Recommendation of "Moderate Buy" by Brokerages

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.20.

Several research analysts recently commented on the company. JPMorgan Chase & Co. cut their price target on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 9th. TD Cowen upgraded Novavax to a "hold" rating in a research report on Thursday, February 27th. B. Riley reiterated a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Finally, BTIG Research started coverage on Novavax in a report on Friday, February 28th. They issued a "buy" rating and a $19.00 price objective for the company.

Novavax Trading Up 1.3%

NVAX stock opened at $7.03 on Tuesday. The stock has a 50-day moving average price of $6.72 and a two-hundred day moving average price of $7.69. Novavax has a 12-month low of $5.01 and a 12-month high of $17.81. The company has a market cap of $1.14 billion, a PE ratio of -3.11, a price-to-earnings-growth ratio of 2.85 and a beta of 2.80.

Novavax (NASDAQ:NVAX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $0.71 by $2.22. The company had revenue of $666.66 million during the quarter, compared to analysts' expectations of $204.08 million. During the same period in the previous year, the company earned ($1.05) EPS. Novavax's quarterly revenue was up 610.3% on a year-over-year basis. Equities analysts forecast that Novavax will post -1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Novavax by 3.3% during the 1st quarter. Rhumbline Advisers now owns 215,413 shares of the biopharmaceutical company's stock valued at $1,381,000 after purchasing an additional 6,949 shares in the last quarter. Strs Ohio bought a new position in Novavax during the 1st quarter valued at $167,000. Bayforest Capital Ltd bought a new position in Novavax during the 1st quarter valued at $404,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Novavax by 16.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company's stock valued at $2,005,000 after purchasing an additional 44,105 shares in the last quarter. Finally, Caxton Associates LLP bought a new position in Novavax during the 1st quarter valued at $158,000. 53.04% of the stock is owned by 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.

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