Novavax (NASDAQ:NVAX) Price Target Raised to $11.00

Novavax (NASDAQ:NVAX) had its price objective boosted by HC Wainwright from $10.00 to $11.00 in a research note released on Thursday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Novavax’s FY2027 earnings at $0.23 EPS and FY2029 earnings at $0.82 EPS.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Novavax in a research note on Wednesday, October 8th. Bank of America restated an “underperform” rating and set a $7.00 price objective (down from $9.00) on shares of Novavax in a research note on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Novavax presently has a consensus rating of “Hold” and a consensus target price of $11.33.

Novavax Price Performance

NVAX opened at $8.52 on Thursday. Novavax has a 12-month low of $5.01 and a 12-month high of $11.55. The company has a current ratio of 2.36, a quick ratio of 2.34 and a debt-to-equity ratio of 5.93. The business’s fifty day simple moving average is $8.40 and its 200-day simple moving average is $7.44. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 3.74, a PEG ratio of 0.12 and a beta of 2.74.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.69. Novavax had a negative return on equity of 142.33% and a net margin of 39.20%.The business had revenue of $239.24 million for the quarter, compared to the consensus estimate of $149.19 million. During the same quarter in the prior year, the company earned $0.99 EPS. The business’s revenue was down 42.4% compared to the same quarter last year. On average, equities research analysts anticipate that Novavax will post -1.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of Novavax by 1.8% in the third quarter. SG Americas Securities LLC now owns 918,683 shares of the biopharmaceutical company’s stock valued at $7,965,000 after purchasing an additional 15,997 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Novavax by 781.3% in the third quarter. Farther Finance Advisors LLC now owns 25,521 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 22,625 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of Novavax in the second quarter valued at about $1,321,000. Marex Group plc acquired a new position in shares of Novavax in the second quarter valued at about $296,000. Finally, State of Wyoming acquired a new position in shares of Novavax in the second quarter valued at about $52,000. 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.