According to Marketbeat, the five analysts covering Novavax, Inc. (NASDAQ:NVAX) have recommended on average to “Hold” the company’s shares. Two equities research experts have recommended that the business purchase the stock, and three have rated it with a hold rating. Brokerages who have rated the stock in the past year have set a 12-month price objective of $14.00 on average.
Recently, several research organisations have provided their opinions on NVAX. In a report released on Monday, TD Cowen raised their price objective for Novavax from $5.00 to $10.00 and recommended that investors “keep” the company. In a research note released on Monday, HC Wainwright maintained a “buy” rating on shares of Novavax and established a price objective of $19.00. In a report released on Friday, Bank of America improved its rating on shares of Novavax from “underperform” to “neutral” and increased its price target for the stock from $4.00 to $12.00. Ultimately, in a report on Friday, JPMorgan Chase & Co. raised its rating on shares of Novavax from “underweight” to “neutral.”
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Price Performance of Novavax
123,035,859 shares of Novavax were exchanged on Monday during trading, up $4.23 from the company’s average volume of 10,132,330. The stock ended the day at $13.11. Novavax has fluctuated between $3.53 and $13.97 during the past 52 weeks. The two-hundred-day simple moving average of the stock is $4.98, while the 50-day simple moving average is $4.73. With a $1.84 billion market value, the firm has a -4.18 P/E ratio and a 1.63 beta.
The most recent quarterly earnings data for Novavax (NASDAQ:NVAX) were released on Friday, May 10. The biopharmaceutical firm missed the average estimate of ($1.04) by ($0.01) and reported ($1.05) earnings per share for the quarter. In contrast to expert projections of $71.32 million, the company’s revenue for the quarter was $93.90 million. In the same time frame previous year, the company reported ($3.41) in profits per share. In comparison to the same quarter last year, Novavax’s revenue increased by 15.9%. Collectively, analysts covering stocks predict Novavax will report -0.82 earnings per share for the current year.
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Exchange of Institutions for Novavax
Recently, a number of significant investors have acquired and sold company shares. During the third quarter, Vanguard Group Inc. increased its holding in Novavax by 9.3%. After purchasing an extra 978,873 shares of the biopharmaceutical company’s stock during the most recent quarter, Vanguard Group Inc. now owns 11,551,476 shares of the company’s stock, valued at $83,633,000. In the fourth quarter, China Universal Asset Management Co. Ltd. increased its holdings in Novavax by 467.0%. After acquiring an extra 11,319 shares during the course of the quarter, China Universal Asset Management Co. Ltd. now holds 13,743 shares of the biopharmaceutical company’s stock, valued at $66,000. In the fourth quarter, Shah Capital Management increased its shares in Novavax by 22.9%. Shah Capital Management bought an additional 1,450,000 shares of the biopharmaceutical company’s stock in the most recent quarter, bringing its total holdings of the company’s stock to 7,780,756 shares, valued at $37,348,000. During the fourth quarter, SG Americas Securities LLC added to its holdings in Novavax, which were valued at around $824,000. Lastly, the Kantonalbank Zurcher During the third quarter, Zurich Cantonalbank increased its ownership in Novavax shares by 309.4%. Zurcher Kantonalbank After purchasing an additional 45,574 shares in the most recent quarter, Zurich Cantonalbank now owns 60,303 shares of the biopharmaceutical company’s stock, valued at $437,000. 53.04% of the company’s shares are held by hedge funds and institutional investors.
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Overview of Novavax Company
A biotechnology business called Novavax, Inc. finds, develops, and markets vaccines to prevent dangerous infectious illnesses in order to promote better health. It provides a vaccination platform that boosts the immune response by combining nanoparticle technology, recombinant protein approach, and its own Matrix-M adjuvant.
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