Novavax (NASDAQ:NVAX) Now Covered by Analysts at BTIG Research

Stock analysts at BTIG Research initiated coverage on shares of Novavax (NASDAQ:NVAX) in a research note issued on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $19.00 price target on the biopharmaceutical company’s stock. BTIG Research’s price objective would indicate a potential upside of 128.09% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.00.

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $8.33 on Friday. The business’s fifty day moving average price is $8.51 and its two-hundred day moving average price is $9.98. The stock has a market cap of $1.33 billion, a PE ratio of -3.69, a price-to-earnings-growth ratio of 2.85 and a beta of 2.14. Novavax has a one year low of $3.81 and a one year high of $23.86.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter in the prior year, the business posted ($1.44) EPS. As a group, equities research analysts predict that Novavax will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Novavax news, Director James F. Young sold 5,400 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the transaction, the director now owns 51,760 shares of the company’s stock, valued at $414,080. This trade represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the sale, the director now directly owns 14,770 shares of the company’s stock, valued at $133,225.40. This represents a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,150 shares of company stock valued at $119,641. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Novavax

Large investors have recently modified their holdings of the company. Creative Planning increased its position in Novavax by 34.5% during the 3rd quarter. Creative Planning now owns 32,482 shares of the biopharmaceutical company’s stock worth $410,000 after purchasing an additional 8,339 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Novavax by 38.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,598 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Novavax in the third quarter worth $214,000. Nisa Investment Advisors LLC raised its stake in shares of Novavax by 1,192.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 23,449 shares of the biopharmaceutical company’s stock valued at $296,000 after acquiring an additional 21,635 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of Novavax by 3,538.8% during the 3rd quarter. US Bancorp DE now owns 12,299 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 11,961 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Novavax Company Profile

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.