Novavax (NASDAQ:NVAX) Raised to Strong-Buy at Zacks Research

Novavax (NASDAQ:NVAX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Sunday, May 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a report on Thursday, March 12th. BTIG Research reiterated a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Thursday, June 11th. TD Cowen increased their price objective on Novavax from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Finally, B. Riley Financial restated a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Novavax has a consensus rating of “Hold” and an average target price of $13.00.

Novavax Trading Up 1.2%

Shares of Novavax stock opened at $9.46 on Monday. The firm has a fifty day simple moving average of $9.28 and a 200-day simple moving average of $8.86. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -16.31 and a beta of 2.43. Novavax has a 1-year low of $6.20 and a 1-year high of $11.97.

Novavax (NASDAQ:NVAX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.19. Novavax had a negative net margin of 14.73% and a negative return on equity of 14.82%. The firm had revenue of $118.90 million for the quarter, compared to the consensus estimate of $79.81 million. During the same quarter last year, the firm posted $2.93 EPS. The business’s quarterly revenue was down 79.0% on a year-over-year basis. As a group, research analysts predict that Novavax will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

Institutional investors and hedge funds have recently bought and sold shares of the business. Flagship Harbor Advisors LLC bought a new position in shares of Novavax during the 4th quarter worth about $33,000. Quarry LP acquired a new position in Novavax in the third quarter worth about $33,000. Duncker Streett & Co. Inc. raised its position in Novavax by 917.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 3,825 shares in the last quarter. KBC Group NV lifted its stake in Novavax by 34.9% during 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 acquired a new stake in Novavax during the second quarter valued at approximately $52,000. Institutional investors own 53.04% of the company’s stock.

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.