Novavax (NASDAQ:NVAX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Novavax (NASDAQ:NVAX) from a "sell" rating to a "hold" in a research note issued Friday.
• Analysts are split — four Buy, one Hold and four Sell — leaving an overall average rating of Hold with an average price target of $11.25; the stock traded at $9.17 midday with a market cap of $1.49 billion, and Novavax reported quarterly EPS of ($1.25) that missed estimates while revenue of $70.45 million beat expectations.

Novavax (NASDAQ:NVAX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

Several other research analysts have also issued reports on NVAX. HC Wainwright raised their target price on Novavax from $10.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, October 23rd. Cantor Fitzgerald began coverage on shares of Novavax in a report on Friday, October 24th. They issued an "overweight" rating and a $18.00 price target for the company. TD Cowen decreased their price objective on Novavax from $8.00 to $7.00 and set a "hold" rating for the company in a report on Tuesday, November 4th. BTIG Research reissued a "buy" rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on Novavax from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.25.

Novavax Stock Performance

Shares of NVAX traded down $0.58 during mid-day trading on Friday, hitting $9.17. 7,574,954 shares of the company's stock were exchanged, compared to its average volume of 5,168,999. The company has a quick ratio of 2.24, a current ratio of 2.27 and a debt-to-equity ratio of 5.93. Novavax has a 52 week low of $5.01 and a 52 week high of $10.64. The stock's 50-day simple moving average is $7.16 and its 200-day simple moving average is $7.72. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 5.12 and a beta of 2.37.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing analysts' consensus estimates of ($1.08) by ($0.17). The company had revenue of $70.45 million during the quarter, compared to analyst estimates of $55.63 million. Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The firm's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) EPS. On average, equities research analysts expect that Novavax will post -1.46 EPS for the current year.

Hedge Funds Weigh In On Novavax

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in Novavax by 95.2% in the 1st quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company's stock worth $285,000 after purchasing an additional 21,663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Novavax by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company's stock worth $678,000 after purchasing an additional 2,750 shares during the period. Caxton Associates LLP bought a new stake in Novavax during the 1st quarter valued at approximately $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Novavax by 16.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company's stock worth $2,005,000 after purchasing an additional 44,105 shares during the period. Finally, Strs Ohio bought a new position in shares of Novavax in the 1st quarter worth about $167,000. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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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