Novavax (NASDAQ:NVAX – Get Rating) had its target price decreased by Cowen from $150.00 to $110.00 in a research report released on Tuesday, Stock Target Advisor reports.
A number of other equities research analysts have also recently weighed in on NVAX. Cowen dropped their price target on shares of Novavax from $150.00 to $110.00 and set an outperform rating for the company in a research report on Tuesday. Cantor Fitzgerald raised their price objective on shares of Novavax from $146.00 to $168.00 in a research note on Wednesday, June 8th. Bank of America started coverage on shares of Novavax in a research note on Friday, May 20th. They issued an underperform rating and a $35.00 price objective for the company. Finally, B. Riley lowered their price objective on shares of Novavax from $181.00 to $171.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Novavax currently has an average rating of Hold and a consensus target price of $151.00.
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Shares of NVAX opened at $40.28 on Tuesday. Novavax has a 1-year low of $34.88 and a 1-year high of $277.80. The stock has a market cap of $3.15 billion, a PE ratio of -2.28, a P/E/G ratio of 0.06 and a beta of 1.52. The firm has a 50-day simple moving average of $53.49 and a two-hundred day simple moving average of $63.48.
Novavax (NASDAQ:NVAX – Get Rating) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($6.53) earnings per share for the quarter, missing analysts' consensus estimates of $5.51 by ($12.04). Novavax had a negative net margin of 93.91% and a negative return on equity of 572.54%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned ($4.75) earnings per share. Novavax's revenue was down 37.6% on a year-over-year basis. As a group, sell-side analysts expect that Novavax will post 27.23 earnings per share for the current fiscal year.Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in Novavax in the first quarter worth approximately $9,839,000. IFM Investors Pty Ltd lifted its stake in Novavax by 19.6% in the first quarter. IFM Investors Pty Ltd now owns 11,096 shares of the biopharmaceutical company's stock worth $817,000 after acquiring an additional 1,819 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Novavax by 8.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 13,990 shares of the biopharmaceutical company's stock worth $2,002,000 after acquiring an additional 1,100 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in Novavax by 3,018.2% in the first quarter. Banque Cantonale Vaudoise now owns 11,631 shares of the biopharmaceutical company's stock worth $857,000 after acquiring an additional 11,258 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Novavax by 2.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 178,351 shares of the biopharmaceutical company's stock worth $13,136,000 after acquiring an additional 3,814 shares during the last quarter. Hedge funds and other institutional investors own 43.91% of the company's stock.
About Novavax
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Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.
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