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

Novavax (NASDAQ:NVAX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $19.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 110.88% from the company’s previous close.

Several other brokerages also recently issued reports on NVAX. B. Riley reiterated a “buy” rating and issued a $26.00 price objective (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Jefferies Financial Group dropped their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their target price on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Price Performance

Shares of NVAX opened at $9.01 on Tuesday. The company has a market capitalization of $1.44 billion, a P/E ratio of -3.26 and a beta of 2.10. Novavax has a one year low of $3.53 and a one year high of $23.86. The business’s 50 day simple moving average is $11.68 and its 200-day simple moving average is $12.38.

Institutional Investors Weigh In On Novavax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in Novavax in the third quarter valued at about $527,000. Sargent Investment Group LLC grew its stake in Novavax by 32.4% in the third quarter. Sargent Investment Group LLC now owns 40,835 shares of the biopharmaceutical company’s stock valued at $516,000 after acquiring an additional 10,000 shares during the period. Victory Capital Management Inc. grew its stake in Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 2,072 shares during the period. Entropy Technologies LP acquired a new position in Novavax in the third quarter valued at about $158,000. Finally, Los Angeles Capital Management LLC acquired a new position in Novavax in the third quarter valued at about $368,000. Institutional investors own 53.04% of the company’s stock.

About Novavax

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.