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

Key Points

• Novavax, Inc. has received a consensus rating of "Hold" from eight brokerages, with two ratings as "sell," two as "hold," and four as "buy."
• Analysts have set the average 12-month price target for Novavax at $15.86, while some firms like JPMorgan and Citigroup have reduced their price targets significantly to $7.00 and $6.00, respectively.
• The company reported a substantial earnings beat with $666.66 million in revenue for the quarter, surpassing analyst estimates of $204.08 million, marking a year-over-year revenue increase of 610.3%.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has earned a consensus rating of "Hold" from the eight brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.8571.

A number of analysts have weighed in on NVAX shares. 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. B. Riley reissued a "buy" rating on shares of Novavax in a research report on Monday, May 19th. Bank of America decreased their price objective on Novavax from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, July 22nd. Finally, Citigroup initiated coverage on Novavax in a research note on Tuesday, June 17th. They set a "sell" rating and a $6.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. GF Fund Management CO. LTD. bought a new position in Novavax in the 4th quarter worth approximately $27,000. Signaturefd LLC boosted its stake in Novavax by 47.2% in the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 3,122 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Novavax in the 2nd quarter worth $73,000. Kitching Partners LLC acquired a new position in Novavax in the 4th quarter worth $89,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Novavax during the 1st quarter worth about $71,000. Institutional investors own 53.04% of the company's stock.

Novavax Price Performance

Novavax stock traded up $0.85 during trading hours on Wednesday, hitting $7.58. 23,311,194 shares of the stock traded hands, compared to its average volume of 5,113,548. The firm's 50 day moving average price is $6.93 and its 200-day moving average price is $7.21. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 2.86, a P/E/G ratio of 0.08 and a beta of 2.50. Novavax has a 1 year low of $5.01 and a 1 year high of $15.22.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.74. The business had revenue of $239.24 million during the quarter, compared to analysts' expectations of $149.19 million. Novavax had a negative return on equity of 115.51% and a net margin of 38.14%. The business's revenue was down 42.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Research analysts forecast that Novavax will post -1.46 earnings per share for the current fiscal year.

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.