Brokerages Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $14.29

Key Points

• Novavax, Inc. has received an average analyst rating of "Hold", with three analysts recommending a sell, one a hold, and four a buy.
• The stock's current average 12-month target price from brokerages is approximately $14.29, despite recent target price cuts from Bank of America and JPMorgan to $7.00.
• In its latest quarter, Novavax reported $0.62 EPS and a revenue of $239.24 million, exceeding analysts' expectations, although its revenue was down 42.4% year-over-year.

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) have been assigned an average recommendation of "Hold" from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.2857.

Several research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Novavax in a report on Tuesday, June 17th. They set a "sell" rating and a $6.00 price target for the company. Bank of America reissued an "underperform" rating and set a $7.00 price target (down from $9.00) on shares of Novavax in a report on Wednesday, August 20th. B. Riley reissued a "buy" rating on shares of Novavax in a report on Monday, May 19th. JPMorgan Chase & Co. cut their price target 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. Finally, HC Wainwright initiated coverage on shares of Novavax in a report on Thursday, August 28th. They set a "buy" rating and a $10.00 price target for the company.

Novavax Stock Performance

NASDAQ NVAX traded down $0.07 during trading on Friday, reaching $7.49. The company's stock had a trading volume of 2,197,435 shares, compared to its average volume of 6,755,325. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.34 and a current ratio of 2.36. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 3.29, a P/E/G ratio of 0.10 and a beta of 2.68. Novavax has a twelve month low of $5.01 and a twelve month high of $15.22. The business's fifty day moving average price is $7.45 and its 200-day moving average price is $7.16.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.69. The company had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. Novavax had a net margin of 39.20% and a negative return on equity of 142.33%. Novavax's quarterly revenue was down 42.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, analysts anticipate that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Novavax during the fourth quarter worth about $27,000. State of Wyoming purchased a new stake in shares of Novavax in the second quarter valued at about $52,000. Signaturefd LLC raised its stake in Novavax by 47.2% during the second 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 purchased a new position in Novavax during the second quarter worth approximately $73,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Novavax during the first quarter worth approximately $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.