Novavax (NASDAQ:NVAX) Given New $7.00 Price Target at TD Cowen

Novavax (NASDAQ:NVAX) had its target price decreased by stock analysts at TD Cowen from $8.00 to $7.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s target price points to a potential downside of 8.32% from the company’s current price.

A number of other research firms have also commented on NVAX. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novavax in a report on Wednesday, October 8th. HC Wainwright raised their price target on Novavax from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Cantor Fitzgerald assumed coverage on Novavax in a research note on Friday, October 24th. They set an “overweight” rating and a $18.00 price objective for the company. Finally, Bank of America reissued an “underperform” rating and set a $7.00 price objective (down previously from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.71.

Novavax Stock Down 3.5%

NASDAQ:NVAX traded down $0.28 on Tuesday, hitting $7.64. The stock had a trading volume of 2,746,401 shares, compared to its average volume of 6,268,114. The business’s fifty day moving average is $8.39 and its 200 day moving average is $7.55. The company has a market cap of $1.24 billion, a PE ratio of 3.35, a P/E/G ratio of 0.12 and a beta of 2.74. The company has a quick ratio of 2.34, a current ratio of 2.36 and a debt-to-equity ratio of 5.93. Novavax has a 52 week low of $5.01 and a 52 week high of $11.55.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.69. The business had revenue of $239.24 million for the quarter, compared to analyst estimates of $149.19 million. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The company’s quarterly revenue was down 42.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. On average, equities research analysts expect that Novavax will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVAX. Bank of New York Mellon Corp increased its holdings in shares of Novavax by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 454,432 shares of the biopharmaceutical company’s stock worth $2,913,000 after buying an additional 17,981 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Novavax during the 1st quarter valued at about $290,000. Hussman Strategic Advisors Inc. increased its holdings in Novavax by 100.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 168,000 shares of the biopharmaceutical company’s stock valued at $1,077,000 after purchasing an additional 84,000 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Novavax during the 1st quarter valued at about $99,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Novavax during the 1st quarter valued at about $71,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.