Novavax, Inc. (NVAX) – What Are Researchers Saying About This Stock?

Shares of Novavax, Inc. (NASDAQ:NVAX) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $12.33.

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Weiss Ratings restated a “sell (d)” rating on shares of Novavax in a report on Monday. Citigroup reiterated a “sell” rating and issued a $8.00 price target (up from $7.00) on shares of Novavax in a report on Thursday, October 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Novavax in a research report on Tuesday, October 27th.

Institutional Investors Weigh In On Novavax

Large investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. boosted its position in shares of Novavax by 917.3% during the first quarter. Duncker Streett & Co. Inc. now owns 4,242 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 3,825 shares in the last quarter. KBC Group NV boosted its holdings in shares of Novavax by 34.9% during the 1st quarter. KBC Group NV now owns 4,746 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 1,229 shares in the last quarter. Allworth Financial LP grew its position in shares of Novavax by 292.5% in the 2nd quarter. Allworth Financial LP now owns 4,353 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 3,244 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Novavax in the 2nd quarter worth about $42,000. Finally, Principal Financial Group Inc. bought a new position in shares of Novavax in the 1st quarter worth about $83,000. Institutional investors own 53.04% of the company’s stock.

Novavax Price Performance

Shares of NVAX opened at $9.68 on Friday. The firm has a fifty day simple moving average of $10.49 and a two-hundred day simple moving average of $9.31. Novavax has a twelve month low of $6.20 and a twelve month high of $13.39.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.51 million. Novavax had a negative net margin of 59.87% and a negative return on equity of 14.82%. The company’s quarterly revenue was down 76.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities research analysts predict that Novavax will post -0.38 EPS for the current year.

About Novavax

Novavax, Inc is a biotechnology company focused on developing and commercializing vaccines for infectious diseases. The company uses recombinant protein nanoparticle technology and its proprietary Matrix-M adjuvant to develop vaccines designed to stimulate targeted immune responses.

Novavax’s principal commercial product is Nuvaxovid, also known as the Novavax COVID-19 vaccine, a protein-based vaccine developed to help prevent COVID-19. The vaccine has been authorized or approved in various markets, subject to local regulatory requirements, and the company has worked with governments, public-health organizations, and pharmaceutical partners to support its distribution internationally.

Founded in 1987, Novavax is headquartered in Gaithersburg, Maryland.