Novavax’s (NVAX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Novavax (NASDAQ:NVAXFree Report) in a report published on Monday, Benzinga reports. HC Wainwright currently has a $19.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on NVAX. JPMorgan Chase & Co. raised shares of Novavax from an underweight rating to a neutral rating in a research report on Friday. Bank of America raised shares of Novavax from an underperform rating to a neutral rating and upped their price target for the stock from $4.00 to $12.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Novavax has an average rating of Hold and a consensus price target of $14.00.

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Novavax Trading Up 47.6 %

Shares of NVAX opened at $13.11 on Monday. Novavax has a twelve month low of $3.53 and a twelve month high of $13.97. The firm has a market capitalization of $1.84 billion, a P/E ratio of -4.14 and a beta of 1.63. The stock’s fifty day simple moving average is $4.88 and its 200 day simple moving average is $5.03.

Novavax (NASDAQ:NVAXGet Free Report) last released its quarterly earnings data on Friday, May 10th. The biopharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.01). The firm had revenue of $93.90 million during the quarter, compared to the consensus estimate of $71.32 million. Novavax’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted ($3.41) EPS. Sell-side analysts predict that Novavax will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Novavax

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Novavax by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,551,476 shares of the biopharmaceutical company’s stock valued at $83,633,000 after buying an additional 978,873 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Novavax by 467.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company’s stock valued at $66,000 after purchasing an additional 11,319 shares in the last quarter. Shah Capital Management increased its holdings in Novavax by 22.9% during the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Novavax in the 4th quarter valued at approximately $824,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Novavax by 309.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company’s stock valued at $437,000 after buying an additional 45,574 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

Novavax Company Profile

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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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Analyst Recommendations for Novavax (NASDAQ:NVAX)

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