Novavax, Inc. (NASDAQ:NVAX)‘s stock had its “hold” rating reaffirmed by Piper Jaffray Companies in a note issued to investors on Wednesday, July 26th. They presently have a $1.50 price objective on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 48.51% from the company’s previous close.
Several other research firms have also recently weighed in on NVAX. BidaskClub cut shares of Novavax from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut shares of Novavax from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. ValuEngine lowered shares of Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $2.00 target price on shares of Novavax in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.61.
Shares of Novavax (NASDAQ:NVAX) traded down 5.94% during mid-day trading on Wednesday, hitting $0.95. The stock had a trading volume of 5,001,305 shares. The stock’s market cap is $268.47 million. The firm has a 50 day moving average of $1.17 and a 200 day moving average of $1.17. Novavax has a one year low of $0.73 and a one year high of $8.49.
Novavax (NASDAQ:NVAX) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The company had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $6.17 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Novavax’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, analysts forecast that Novavax will post ($0.61) earnings per share for the current year.
In related news, insider Stanley C. Erck purchased 50,000 shares of the stock in a transaction on Thursday, May 11th. The shares were purchased at an average cost of $0.84 per share, with a total value of $42,000.00. Following the acquisition, the insider now directly 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. Over the last three months, insiders acquired 107,057 shares of company stock worth $92,631. Insiders own 4.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NVAX. State Street Corp raised its position in shares of 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. Renaissance Technologies LLC acquired a new position in shares of Novavax during the fourth quarter worth about $544,000. Metropolitan Life Insurance Co. NY raised its position in shares of Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 5,704 shares during the last quarter. Norges Bank acquired a new position in shares of Novavax during the fourth quarter worth about $3,300,000. Finally, Teachers Advisors LLC raised its position in shares of Novavax by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 455,686 shares of the biopharmaceutical company’s stock worth $574,000 after buying an additional 18,519 shares during the last quarter. Hedge funds and other institutional investors own 50.16% of the company’s stock.
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.
Receive News & Ratings for Novavax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
