Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at B. Riley decreased their Q2 2020 earnings per share (EPS) estimates for Novavax in a research report issued to clients and investors on Monday, June 29th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings per share of $0.54 for the quarter, down from their previous forecast of $1.11. B. Riley currently has a “Buy” rating and a $106.00 target price on the stock. B. Riley also issued estimates for Novavax’s Q3 2020 earnings at $1.52 EPS, Q4 2020 earnings at $6.28 EPS, FY2020 earnings at $8.20 EPS, FY2021 earnings at $19.25 EPS, FY2022 earnings at $5.56 EPS, FY2023 earnings at $7.84 EPS and FY2024 earnings at $9.65 EPS.
Several other research firms have also commented on NVAX. LADENBURG THALM/SH SH raised their target price on shares of Novavax from $38.00 to $50.00 in a report on Thursday, May 14th. JPMorgan Chase & Co. upgraded shares of Novavax from an “underweight” rating to a “neutral” rating and set a $46.00 price target on the stock in a research note on Friday, June 5th. BidaskClub upgraded shares of Novavax from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 15th. Oppenheimer raised their price target on shares of Novavax from $19.00 to $38.50 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, HC Wainwright raised their price target on shares of Novavax from $50.00 to $101.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $62.81.
NVAX stock opened at $83.35 on Wednesday. Novavax has a 12 month low of $3.54 and a 12 month high of $89.50. The firm has a market cap of $4.99 billion, a P/E ratio of -20.13 and a beta of 1.33. The company’s 50-day moving average price is $52.41 and its two-hundred day moving average price is $20.81.
Novavax (NASDAQ:NVAX) last released its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.09. The firm had revenue of $3.38 million during the quarter, compared to the consensus estimate of $3.50 million. During the same period in the prior year, the business earned ($2.20) earnings per share.
In other Novavax news, Director James F. Young bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $48.83 per share, for a total transaction of $73,245.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gregory M. Glenn sold 16,749 shares of Novavax stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $59.53, for a total transaction of $997,067.97. Following the sale, the insider now owns 18,588 shares in the company, valued at $1,106,543.64. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of NVAX. Ameritas Investment Partners Inc. lifted its position in shares of Novavax by 42.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,326 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 690 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Novavax by 9.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,587 shares of the biopharmaceutical company’s stock worth $198,000 after purchasing an additional 1,236 shares during the period. Victory Capital Management Inc. lifted its position in shares of Novavax by 36.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,406 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 1,433 shares during the period. Squarepoint Ops LLC lifted its position in shares of Novavax by 4.8% in the 1st quarter. Squarepoint Ops LLC now owns 45,251 shares of the biopharmaceutical company’s stock worth $615,000 after purchasing an additional 2,075 shares during the period. Finally, American International Group Inc. lifted its position in shares of Novavax by 14.3% in the 1st quarter. American International Group Inc. now owns 19,012 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 2,374 shares during the period. Institutional investors and hedge funds own 22.80% of the company’s stock.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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