Novavax’s (NVAX) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Novavax (NASDAQ:NVAX) in a research note released on Wednesday, Benzinga reports. They currently have a $31.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also recently commented on NVAX. B. Riley reiterated a buy rating and set a $23.00 target price (down previously from $25.00) on shares of Novavax in a research report on Monday, August 12th. 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 note on Monday, August 12th. Finally, Bank of America raised their target price on shares of Novavax from $12.00 to $18.00 and gave the stock a neutral rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $18.33.

Novavax Stock Performance

Shares of NASDAQ NVAX opened at $13.61 on Wednesday. The stock’s 50-day simple moving average is $12.50 and its 200-day simple moving average is $11.20. The firm has a market capitalization of $1.91 billion, a PE ratio of -4.29 and a beta of 2.04. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.83). The firm had revenue of $415.50 million for the quarter, compared to analyst estimates of $458.57 million. The company’s revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. On average, sell-side analysts forecast that Novavax will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Novavax

A number of hedge funds have recently added to or reduced their stakes in the stock. Shah Capital Management raised its stake in shares of Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. Rafferty Asset Management LLC raised its position in Novavax by 62.4% during the 4th quarter. Rafferty Asset Management LLC now owns 1,611,840 shares of the biopharmaceutical company’s stock worth $7,737,000 after buying an additional 619,370 shares during the last quarter. Coatue Management LLC purchased a new position in Novavax during the 4th quarter worth $7,294,000. TSP Capital Management Group LLC lifted its stake in shares of Novavax by 23.9% in the 1st quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after acquiring an additional 265,250 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Novavax by 940.7% in the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock valued at $14,579,000 after acquiring an additional 1,043,363 shares in the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

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.