Novavax, Inc. (NASDAQ:NVAX) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Novavax, Inc. has received a consensus recommendation of "Reduce" from eight brokerages, with four analysts advising a sell, one a hold, and three a buy.
• The average 1-year price target for Novavax stock is currently set at $9.80, reflecting mixed sentiments among investors following fluctuating ratings from several firms.
• Despite beating earnings estimates in its last quarterly report, Novavax's revenue has decreased by 42.4% year-over-year, highlighting potential challenges ahead for the company.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) has been given a consensus recommendation of "Reduce" by the eight research firms that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.80.

NVAX has been the topic of several recent research reports. HC Wainwright initiated coverage on Novavax in a research note on Thursday, August 28th. They issued a "buy" rating and a $10.00 price target on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Novavax in a research note on Wednesday, October 8th. Finally, Bank of America reissued an "underperform" rating and issued a $7.00 price target (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th.

Institutional Trading of Novavax

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bayforest Capital Ltd bought a new stake in Novavax during the first quarter worth about $404,000. Kingstone Capital Partners Texas LLC bought a new stake in Novavax during the second quarter worth about $1,016,000. Park West Asset Management LLC bought a new stake in Novavax during the first quarter worth about $16,210,000. Shah Capital Management raised its holdings in Novavax by 3.4% during the second quarter. Shah Capital Management now owns 11,511,780 shares of the biopharmaceutical company's stock worth $72,524,000 after acquiring an additional 379,934 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Novavax during the first quarter worth about $191,000. Institutional investors own 53.04% of the company's stock.

Novavax Stock Performance

NVAX opened at $8.10 on Monday. The business's 50-day moving average price is $8.43 and its two-hundred day moving average price is $7.37. Novavax has a 1 year low of $5.01 and a 1 year high of $11.55. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 3.55, a P/E/G ratio of 0.11 and a beta of 2.74. 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 (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.69. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The firm had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same quarter last year, the business posted $0.99 EPS. The company's revenue for the quarter was down 42.4% on a year-over-year basis. Equities analysts expect that Novavax will post -1.46 EPS 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.

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