Novavax (NASDAQ:NVAX) Given Buy Rating at BTIG Research

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $19.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price target points to a potential upside of 120.78% from the stock’s current price.

A number of other equities analysts have also commented on the company. HC Wainwright lifted their price objective on Novavax from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. B. Riley reiterated a “buy” rating and set a $16.00 price target (down from $18.00) on shares of Novavax in a report on Monday, November 10th. Wall Street Zen downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. dropped their target price on shares of Novavax from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 18th. Finally, TD Cowen reduced their price target on shares of Novavax from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.25.

Novavax Stock Up 7.4%

Shares of NASDAQ NVAX traded up $0.60 during mid-day trading on Tuesday, reaching $8.61. 6,825,464 shares of the company traded hands, compared to its average volume of 5,084,014. The company’s fifty day moving average is $6.99 and its two-hundred day moving average is $7.66. The company has a debt-to-equity ratio of 5.93, a quick ratio of 2.24 and a current ratio of 2.27. Novavax has a fifty-two week low of $5.01 and a fifty-two week high of $10.64. The stock has a market cap of $1.40 billion, a PE ratio of 4.77 and a beta of 2.37.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.17). The firm had revenue of $70.45 million during the quarter, compared to the consensus estimate of $55.63 million. Novavax had a net margin of 32.10% and a negative return on equity of 217.02%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.76) EPS. On average, analysts expect that Novavax will post -1.46 earnings per share for the current year.

Institutional Trading of Novavax

Several institutional investors have recently bought and sold shares of NVAX. Vanguard Personalized Indexing Management LLC grew its position in Novavax by 11.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,755 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 1,268 shares during the period. Legal & General Group Plc grew its holdings in shares of Novavax by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 155,743 shares of the biopharmaceutical company’s stock worth $1,350,000 after purchasing an additional 1,529 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Novavax by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,048 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 1,718 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Novavax by 5.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 34,095 shares of the biopharmaceutical company’s stock valued at $215,000 after purchasing an additional 1,766 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Novavax by 9.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 28,280 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 2,326 shares during the last quarter. Institutional investors and hedge funds 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.