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

Key Points

• Novavax, Inc. has received a consensus rating of "Hold" from analysts, with three recommending sell, one hold, and four buy ratings. The average target price is set at $14.29.
• The company reported earnings of $0.62 per share, exceeding expectations significantly, with revenue of $239.24 million, although down 42.4% year-over-year.
• Recently, hedge funds have shown interest in Novavax, with 53.04% of the stock owned by institutional investors following recent stake acquisitions.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has received a consensus recommendation of "Hold" from the eight analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.2857.

NVAX has been the subject of several analyst reports. Citigroup initiated coverage on Novavax in a report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price objective for the company. Bank of America restated an "underperform" rating and issued a $7.00 price objective (down previously from $9.00) on shares of Novavax in a report on Wednesday, August 20th. Finally, HC Wainwright began coverage on shares of Novavax in a research note on Thursday, August 28th. They issued a "buy" rating and a $10.00 target price for the company.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $8.64 on Thursday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 3.79, a PEG ratio of 0.11 and a beta of 2.68. The business has a 50-day moving average of $7.92 and a 200-day moving average of $7.20. The company has a debt-to-equity ratio of 5.93, a current ratio of 2.36 and a quick ratio of 2.34. Novavax has a fifty-two week low of $5.01 and a fifty-two week high of $15.22.

Novavax (NASDAQ:NVAX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.69. The company 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 142.33% and a net margin of 39.20%.Novavax's revenue for the quarter was down 42.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. As a group, sell-side analysts predict that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in Novavax in the 4th quarter valued at about $27,000. State of Wyoming acquired a new stake in Novavax in the 2nd quarter valued at about $52,000. Signaturefd LLC lifted its stake in Novavax by 47.2% in the 2nd quarter. Signaturefd LLC now owns 9,739 shares of the biopharmaceutical company's stock valued at $61,000 after purchasing an additional 3,122 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Novavax in the 2nd quarter valued at about $73,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Novavax in the 1st quarter valued at about $71,000. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.