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

Key Points

• Novavax currently has an average analyst rating of "Hold" from 10 brokerages, with a mix of sell, hold, buy, and strong-buy calls. The average 12-month price target is $13.00.
• Recent analyst action has been mixed: Zacks Research upgraded the stock to strong-buy, while Weiss Ratings downgraded it to sell; TD Cowen also raised its price target to $9.00 but kept a hold rating. BTIG Research maintained a buy rating with a $19.00 target.
• Novavax recently beat earnings expectations, reporting EPS of -$0.06 versus the expected -$0.25 and revenue of $118.9 million versus estimates of $79.81 million. However, revenue was still down 79% year over year, and analysts expect the company to remain unprofitable this fiscal year.

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) have received an average rating of "Hold" from the ten brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.00.

NVAX has been the topic of several research analyst reports. Zacks Research upgraded shares of Novavax from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Wall Street Zen upgraded Novavax from a "sell" rating to a "hold" rating in a report on Sunday, May 31st. TD Cowen upped their price target on shares of Novavax from $8.00 to $9.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Weiss Ratings lowered Novavax from a "hold (c-)" rating to a "sell (d)" rating in a research report on Thursday, May 7th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $19.00 target price on shares of Novavax in a research report on Thursday, June 11th.

Institutional Trading of Novavax

Hedge funds have recently modified their holdings of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of Novavax in the 4th quarter worth about $33,000. Quarry LP bought a new stake in Novavax during the third quarter worth about $33,000. Duncker Streett & Co. Inc. boosted its stake in Novavax by 917.3% during the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 3,825 shares in the last quarter. KBC Group NV grew its holdings in Novavax by 34.9% in the first quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 1,229 shares during the period. Finally, State of Wyoming purchased a new stake in Novavax in the second quarter worth about $52,000. Institutional investors own 53.04% of the company's stock.

Novavax Stock Performance

Shares of NVAX opened at $8.07 on Wednesday. The stock's 50-day simple moving average is $9.25 and its 200 day simple moving average is $8.99. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -13.91 and a beta of 2.43. Novavax has a 52-week low of $6.20 and a 52-week high of $11.97.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.19. The business had revenue of $118.90 million for the quarter, compared to analyst estimates of $79.81 million. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. Novavax's revenue was down 79.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 EPS. On average, research analysts forecast that Novavax will post -0.19 earnings per share for the current fiscal 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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