JPMorgan Chase & Co. Issues Pessimistic Forecast for Novavax (NASDAQ:NVAX) Stock Price

Novavax (NASDAQ:NVAX) had its price target dropped by analysts at JPMorgan Chase & Co. from $9.00 to $7.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 16.86% from the company’s previous close.

NVAX has been the subject of several other reports. TD Cowen upgraded Novavax to a “hold” rating in a research report on Thursday, February 27th. BTIG Research initiated coverage on shares of Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.71.

Novavax Stock Down 10.1 %

NVAX opened at $5.99 on Friday. The firm’s fifty day simple moving average is $6.86 and its two-hundred day simple moving average is $8.02. Novavax has a 52-week low of $5.01 and a 52-week high of $23.86. The company has a market cap of $963.46 million, a price-to-earnings ratio of -2.65, a PEG ratio of 2.85 and a beta of 3.21.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Friday, May 9th. The biopharmaceutical company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $2.74. The company had revenue of $666.66 million during the quarter, compared to analysts’ expectations of $204.08 million. During the same period in the prior year, the business posted ($1.05) earnings per share. The company’s quarterly revenue was up 610.3% compared to the same quarter last year. On average, research analysts forecast that Novavax will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in Novavax during the fourth quarter worth about $27,000. Spire Wealth Management acquired a new stake in shares of Novavax during the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC purchased a new stake in shares of Novavax during the 4th quarter valued at approximately $35,000. KBC Group NV grew its position in Novavax by 97.0% in the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 3,917 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Novavax in the first quarter worth approximately $71,000. Hedge funds and other institutional investors own 53.04% of the company’s stock.

About Novavax

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.