Novavax’s (NASDAQ:NVAX) “Hold” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their hold rating on shares of Novavax, Inc. (NASDAQ:NVAX) in a report issued on Friday morning. They currently have a $2.00 target price on the biopharmaceutical company’s stock.

“Important RSV vaccine data to be released next Monday. NVAX plans to host a conference call on Monday, July 24, at 4:30pm EDT, on which top-line data from the E-205 Phase 2 clinical trial of the RSV vaccine candidate in older adults will be discussed. The company’s press release notes that an update of the ongoing pivotal Prepare trial of the vaccine candidate in pregnant women will also be provided. Of the two programs, we believe the former is likely to be the greater value creator and, if the data are encouraging, could provide a catalyst for renewed investor interest in the stock.”,” Cantor Fitzgerald’s analyst wrote.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Novavax from a buy rating to a hold rating in a research note on Friday, June 9th. ValuEngine downgraded shares of Novavax from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded shares of Novavax from a hold rating to a sell rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Novavax has a consensus rating of Hold and a consensus price target of $5.56.

Shares of Novavax (NVAX) opened at 1.677 on Friday. The stock’s 50 day moving average is $1.15 and its 200 day moving average is $1.18. The stock’s market cap is $473.91 million. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $5.68 million for the quarter, compared to the consensus estimate of $6.17 million. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. On average, equities analysts expect that Novavax will post ($0.61) earnings per share for the current fiscal year.

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In other news, insider Stanley C. Erck purchased 50,000 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average cost of $0.84 per share, with a total value of $42,000.00. Following the acquisition, the insider now owns 128,279 shares in the company, valued at $107,754.36. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 105,000 shares of company stock worth $90,800. Insiders own 4.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NVAX. Vanguard Group Inc. raised its stake in Novavax by 4.5% in the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock worth $27,752,000 after buying an additional 938,581 shares during the last quarter. State Street Corp raised its stake in Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 9,947,481 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Novavax by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock worth $4,746,000 after buying an additional 1,095,388 shares during the last quarter. Norges Bank purchased a new stake in Novavax during the fourth quarter worth $3,300,000. Finally, Geode Capital Management LLC raised its stake in Novavax by 18.3% in the first quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock worth $3,073,000 after buying an additional 371,295 shares during the last quarter. 50.04% of the stock is owned by institutional investors and hedge funds.

About Novavax

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.