Analysts Set Novavax, Inc. (NASDAQ:NVAX) PT at $11.88

Shares of Novavax, Inc. (NASDAQ:NVAX) have been given an average recommendation of “Hold” by the ten research firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.8750.

Several equities research analysts recently commented on NVAX shares. HC Wainwright lifted their price objective on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, February 27th. BTIG Research reiterated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Novavax from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded shares of Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, March 12th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Novavax in a report on Thursday, March 12th.

Novavax Trading Down 1.2%

Shares of NASDAQ NVAX opened at $9.62 on Thursday. The firm’s 50 day moving average price is $9.27 and its 200-day moving average price is $8.23. Novavax has a 52-week low of $5.01 and a 52-week high of $11.97. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.10 and a current ratio of 2.13. The company has a market cap of $1.57 billion, a PE ratio of 3.99 and a beta of 2.54.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.77. The company had revenue of $136.40 million during the quarter, compared to the consensus estimate of $90.26 million. Novavax had a net margin of 39.19% and a negative return on equity of 673.17%. The firm’s quarterly revenue was up 66.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share. On average, equities research analysts expect that Novavax will post -1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Novavax

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