Novavax (NASDAQ:NVAX) Rating Increased to Hold at StockNews.com

Posted by on Jun 8th, 2023

Novavax (NASDAQ:NVAX – Get Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

NVAX has been the topic of several other research reports. HC Wainwright reduced their price objective on shares of Novavax from $110.00 to $35.00 in a research note on Wednesday, May 10th. B. Riley lowered Novavax from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 1st. Finally, TD Cowen downgraded Novavax from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.67.

Novavax Price Performance

Shares of Novavax stock opened at $7.67 on Thursday. The company’s 50 day moving average price is $7.92 and its two-hundred day moving average price is $9.90. The firm has a market capitalization of $662.00 million, a P/E ratio of -0.53 and a beta of 1.72. Novavax has a fifty-two week low of $5.61 and a fifty-two week high of $76.77.

Novavax (NASDAQ:NVAX – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($3.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.38) by ($0.03). The company had revenue of $81.00 million during the quarter, compared to analyst estimates of $94.52 million. The firm’s revenue was down 88.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.56 EPS. On average, analysts expect that Novavax will post -2.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVAX. US Bancorp DE raised its holdings in shares of Novavax by 41.8% during the first quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 614 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Novavax by 22.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,441 shares of the biopharmaceutical company’s stock valued at $1,064,000 after acquiring an additional 2,609 shares during the period. HighTower Advisors LLC increased its holdings in shares of Novavax by 29.8% during the first quarter. HighTower Advisors LLC now owns 10,836 shares of the biopharmaceutical company’s stock valued at $800,000 after acquiring an additional 2,486 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Novavax during the first quarter worth approximately $359,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Novavax by 239.7% in the 1st quarter. Allianz Asset Management GmbH now owns 71,862 shares of the biopharmaceutical company’s stock worth $5,292,000 after purchasing an additional 50,708 shares in the last quarter. 45.70% of the stock is owned by institutional investors.

About Novavax

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Novavax, Inc Is a biotechnology company, which engages in the discovery, development, and commercialization of recombinant vaccines. The company was founded in 1987 and is headquartered in Gaithersburg, MD.

Further Reading

Analyst Recommendations for Novavax (NASDAQ:NVAX)

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