Novavax, Inc. (NASDAQ:NVAX) – Investment analysts at Cantor Fitzgerald boosted their FY2019 earnings per share (EPS) estimates for Novavax in a research note issued on Tuesday, May 14th. Cantor Fitzgerald analyst M. Lillis now expects that the biopharmaceutical company will earn ($6.85) per share for the year, up from their previous forecast of ($7.20). Cantor Fitzgerald currently has a “Hold” rating on the stock.
Several other research analysts have also recently issued reports on NVAX. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday. ValuEngine upgraded Novavax from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Chardan Capital reiterated a “hold” rating and issued a $7.00 price objective on shares of Novavax in a research report on Friday, May 10th. BidaskClub upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Oppenheimer increased their price objective on Novavax from $1.25 to $25.00 in a research report on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.00.
NASDAQ:NVAX opened at $5.90 on Friday. The firm has a market capitalization of $150.93 million, a price-to-earnings ratio of -0.59 and a beta of 1.98. Novavax has a 1 year low of $5.72 and a 1 year high of $51.60.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.40) by $0.20. The company had revenue of $3.98 million for the quarter, compared to analyst estimates of $4.80 million. During the same period in the prior year, the business earned ($2.80) earnings per share.
In other news, Director Rachel K. King purchased 86,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average price of $0.53 per share, for a total transaction of $45,580.00. Following the completion of the transaction, the director now directly owns 42,000 shares in the company, valued at approximately $22,260. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC increased its position in shares of Novavax by 52.6% in the third quarter. MetLife Investment Advisors LLC now owns 284,027 shares of the biopharmaceutical company’s stock valued at $534,000 after buying an additional 97,901 shares in the last quarter. Opti Capital Management LP purchased a new position in shares of Novavax in the fourth quarter valued at $39,000. Caption Management LLC purchased a new position in shares of Novavax in the fourth quarter valued at $1,085,000. Oppenheimer & Co. Inc. purchased a new position in shares of Novavax in the first quarter valued at $40,000. Finally, Bank of New York Mellon Corp increased its position in shares of Novavax by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 1,812,816 shares of the biopharmaceutical company’s stock valued at $3,408,000 after buying an additional 91,969 shares in the last quarter. Institutional investors and hedge funds own 32.82% of the company’s stock.
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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