Novavax (NASDAQ:NVAX) Shares Gap Up - Should You Buy?

Key Points

• Novavax shares opened at $10.00 after closing at $9.58, with recent trading volumes indicating increased investor interest.
• Analysts have mixed ratings for Novavax, with price targets ranging from $6.00 (Citigroup) to $15.86 (average) while a "buy" rating was reiterated by B. Riley.
• The company reported an earnings per share (EPS) of $0.62, significantly beating the consensus estimate and showing a 39.20% net margin, though revenue was down 42.4% year-over-year.

Novavax, Inc. (NASDAQ:NVAX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $9.58, but opened at $10.00. Novavax shares last traded at $10.02, with a volume of 1,897,428 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price target on Novavax from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, July 22nd. Citigroup assumed coverage on Novavax in a report on Tuesday, June 17th. They issued a "sell" rating and a $6.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Novavax from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Finally, B. Riley reiterated a "buy" rating on shares of Novavax in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $15.86.

Novavax Stock Performance

The company has a market cap of $1.62 billion, a P/E ratio of 4.39, a PEG ratio of 0.11 and a beta of 2.50. The firm has a 50 day moving average of $7.15 and a 200-day moving average of $7.17. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93.

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

Institutional Trading of Novavax

A number of institutional investors have recently made changes to their positions in the business. Sanofi acquired a new stake in Novavax during the 4th quarter worth about $55,319,000. Park West Asset Management LLC purchased a new position in shares of Novavax during the 1st quarter valued at about $16,210,000. Deep Track Capital LP purchased a new position in shares of Novavax during the 4th quarter valued at about $16,080,000. Jupiter Asset Management Ltd. raised its stake in shares of Novavax by 195.9% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 880,410 shares of the biopharmaceutical company's stock valued at $5,547,000 after buying an additional 582,858 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Novavax during the 2nd quarter valued at about $3,382,000. Institutional investors and hedge funds own 53.04% of the company's stock.

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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