Novavax, Inc. (NASDAQ:NVAX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts rate Novavax “Hold” overall: Of 10 covering brokerages, five recommend buying, two recommend holding, and three recommend selling. The average 12-month price target is $13.00, compared with the stock’s recent price of $8.05.
• Institutional ownership remains significant: Institutional investors and hedge funds own 53.04% of Novavax, with several firms—including UBS, Massachusetts Financial Services, and Monaco Asset Management—recently increasing their positions.
• Quarterly results beat estimates but showed ongoing weakness: Novavax reported an adjusted loss of $0.32 per share versus the expected $0.38 loss and revenue of $56.7 million, though revenue fell 76.2% year over year and the company remained unprofitable.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has earned a consensus recommendation of "Hold" from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $13.00.

NVAX has been the topic of several research reports. Weiss Ratings restated a "sell (d)" rating on shares of Novavax in a report on Tuesday, August 4th. Wall Street Zen cut shares of Novavax from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Zacks Research downgraded Novavax from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. BTIG Research restated a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Thursday, June 11th. Finally, TD Cowen raised their price objective on Novavax from $8.00 to $9.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On Novavax

Institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its stake in Novavax by 40.3% in the 4th quarter. UBS Group AG now owns 4,894,284 shares of the biopharmaceutical company's stock valued at $32,890,000 after buying an additional 1,405,981 shares in the last quarter. Vanguard Group Inc. raised its stake in Novavax by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,470,365 shares of the biopharmaceutical company's stock worth $103,961,000 after acquiring an additional 275,802 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Novavax by 107.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 199,106 shares of the biopharmaceutical company's stock valued at $1,338,000 after acquiring an additional 102,945 shares during the period. Edgestream Partners L.P. bought a new position in shares of Novavax during the first quarter valued at $4,234,000. Finally, Monaco Asset Management SAM lifted its holdings in shares of Novavax by 161.3% during the fourth quarter. Monaco Asset Management SAM now owns 1,045,000 shares of the biopharmaceutical company's stock valued at $7,022,000 after acquiring an additional 645,000 shares during the period. Institutional investors and hedge funds own 53.04% of the company's stock.

Novavax Trading Down 1.1%

NVAX opened at $8.05 on Friday. The business has a 50 day moving average of $8.51 and a 200-day moving average of $8.94. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -5.30 and a beta of 2.46. Novavax has a 1-year low of $6.20 and a 1-year high of $11.97.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.06. Novavax had a negative net margin of 59.87% and a negative return on equity of 14.82%. The business had revenue of $56.70 million for the quarter, compared to analyst estimates of $52.51 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Novavax's revenue was down 76.2% compared to the same quarter last year. Equities analysts predict that Novavax will post -0.43 EPS for the current year.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company's lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.

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