Brokerages Set Novavax, Inc. (NASDAQ:NVAX) Price Target at $18.00

Shares of Novavax, Inc. (NASDAQ:NVAX - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $18.00.

Several equities analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Novavax in a research note on Friday, February 28th. They set a "buy" rating and a $19.00 price target for the company. TD Cowen raised shares of Novavax to a "hold" rating in a research report on Thursday, February 27th.

Novavax Trading Up 3.9 %

Shares of NVAX stock traded up $0.25 during trading hours on Monday, hitting $6.67. 5,230,391 shares of the company were exchanged, compared to its average volume of 8,351,469. Novavax has a 52 week low of $4.25 and a 52 week high of $23.86. The business has a 50 day moving average of $7.07 and a two-hundred day moving average of $8.27. The company has a market capitalization of $1.07 billion, a PE ratio of -2.95, a PEG ratio of 2.85 and a beta of 3.15.

Novavax (NASDAQ:NVAX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period in the prior year, the business earned ($1.44) EPS. On average, research analysts forecast that Novavax will post -1.46 EPS for the current year.

Institutional Trading of Novavax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. lifted its position in Novavax by 5.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company's stock worth $204,000 after purchasing an additional 1,219 shares during the period. Bank of New York Mellon Corp lifted its stake in Novavax by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company's stock worth $3,509,000 after purchasing an additional 1,664 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Novavax by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company's stock valued at $406,000 after purchasing an additional 2,124 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Novavax by 16.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company's stock valued at $130,000 after purchasing an additional 2,287 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Novavax by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 33,965 shares of the biopharmaceutical company's stock valued at $273,000 after buying an additional 3,174 shares in the last quarter. 53.04% of the stock is owned by institutional investors.

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.