Novavax (NASDAQ:NVAX) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup assumed coverage on shares of Novavax (NASDAQ:NVAX) in a report issued on Tuesday,Benzinga reports. The brokerage set a “sell” rating and a $6.00 price target on the biopharmaceutical company’s stock. Citigroup’s price target would suggest a potential downside of 14.65% from the stock’s current price.

Several other research analysts have also issued reports on NVAX. B. Riley reiterated a “buy” rating on shares of Novavax in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their price target on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 9th. TD Cowen upgraded shares of Novavax to a “hold” rating in a research report on Thursday, February 27th. Finally, BTIG Research assumed coverage on shares of Novavax in a report on Friday, February 28th. They set a “buy” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

Novavax Trading Up 1.3%

Shares of NASDAQ NVAX opened at $7.03 on Tuesday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.11, a PEG ratio of 2.85 and a beta of 2.80. Novavax has a one year low of $5.01 and a one year high of $17.81. The business has a fifty day simple moving average of $6.72 and a 200 day simple moving average of $7.69.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $2.22. The business had revenue of $666.66 million during the quarter, compared to analyst estimates of $204.08 million. The business’s revenue for the quarter was up 610.3% on a year-over-year basis. During the same period last year, the company earned ($1.05) EPS. On average, research analysts anticipate that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Hedge funds have recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. lifted its position in shares of Novavax by 5.1% during the fourth quarter. E Fund Management Co. Ltd. now owns 25,340 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 1,219 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Novavax by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 436,451 shares of the biopharmaceutical company’s stock valued at $3,509,000 after buying an additional 1,664 shares during the period. Federated Hermes Inc. raised its position in shares of Novavax by 4.4% during the fourth quarter. Federated Hermes Inc. now owns 50,506 shares of the biopharmaceutical company’s stock worth $406,000 after acquiring an additional 2,124 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Novavax by 16.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 16,126 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 2,287 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Novavax by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 2,750 shares during the period. Institutional investors own 53.04% of the company’s stock.

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.