Novavax (NASDAQ:NVAX) Given Buy Rating at B. Riley

by · The Cerbat Gem

B. Riley reissued their buy rating on shares of Novavax (NASDAQ:NVAX – Free Report) in a report published on Thursday, Benzinga reports. They currently have a $26.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $23.00.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Novavax from $8.00 to $9.00 and gave the company an underweight rating in a research report on Monday, August 12th. Bank of America boosted their price objective on Novavax from $12.00 to $18.00 and gave the company a neutral rating in a research report on Friday, June 14th. Finally, Jefferies Financial Group restated a buy rating and issued a $31.00 price objective on shares of Novavax in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $18.83.

View Our Latest Stock Analysis on NVAX

Novavax Stock Performance

NASDAQ:NVAX traded down $0.39 during mid-day trading on Thursday, hitting $12.51. 1,172,772 shares of the company traded hands, compared to its average volume of 10,140,200. The stock’s fifty day moving average price is $12.45 and its 200-day moving average price is $11.42. Novavax has a one year low of $3.53 and a one year high of $23.86.

Novavax (NASDAQ:NVAX – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.83). The business had revenue of $415.50 million during the quarter, compared to analyst estimates of $458.57 million. During the same period in the previous year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Analysts forecast that Novavax will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its holdings in shares of Novavax by 26.9% during the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in Novavax by 3.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after acquiring an additional 1,300 shares during the last quarter. Edgestream Partners L.P. raised its stake in Novavax by 23.7% in the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 2,447 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Creative Planning raised its stake in Novavax by 12.5% in the 2nd quarter. Creative Planning now owns 24,143 shares of the biopharmaceutical company’s stock worth $306,000 after acquiring an additional 2,692 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

About Novavax

(Get Free Report)

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.

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