B. Riley reissued their buy rating on shares of Novavax (NASDAQ:NVAX) in a research report released on Monday, TipRanks reports. They currently have a $257.00 price objective on the biopharmaceutical company’s stock. B. Riley also issued estimates for Novavax’s Q3 2020 earnings at $8.22 EPS, Q4 2020 earnings at $16.40 EPS, FY2020 earnings at $25.43 EPS, FY2021 earnings at $29.94 EPS, FY2022 earnings at $31.48 EPS, FY2023 earnings at $23.10 EPS and FY2024 earnings at $25.18 EPS.
A number of other research firms have also weighed in on NVAX. HC Wainwright increased their price objective on Novavax from $101.00 to $132.00 and gave the company a buy rating in a research note on Thursday, July 16th. Oppenheimer boosted their price objective on Novavax from $19.00 to $38.50 and gave the company an outperform rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. upgraded Novavax from a neutral rating to an overweight rating and boosted their price objective for the company from $105.00 to $275.00 in a report on Wednesday, August 5th. BidaskClub upgraded Novavax from a buy rating to a strong-buy rating in a report on Friday, May 15th. Finally, Cantor Fitzgerald boosted their price objective on Novavax from $88.00 to $148.00 in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Novavax currently has a consensus rating of Buy and a consensus price target of $143.31.
NVAX stock opened at $143.13 on Monday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $131.13 and its 200 day moving average is $52.75. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of -52.05 and a beta of 1.76. Novavax has a 1-year low of $3.54 and a 1-year high of $189.40.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Monday, August 10th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.30. The company had revenue of $35.50 million during the quarter, compared to the consensus estimate of $5.67 million. The firm’s revenue for the quarter was up 944.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.69) earnings per share. As a group, sell-side analysts forecast that Novavax will post 7.29 EPS for the current fiscal year.
In related news, Director James F. Young bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $48.83 per share, for a total transaction of $73,245.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Trizzino sold 42,788 shares of Novavax stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $148.78, for a total value of $6,365,998.64. Following the completion of the transaction, the chief financial officer now owns 16,336 shares of the company’s stock, valued at $2,430,470.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,700 shares of company stock valued at $23,324,904. Company insiders own 3.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in shares of Novavax during the second quarter worth about $25,000. Flagship Harbor Advisors LLC increased its position in shares of Novavax by 36.8% during the second quarter. Flagship Harbor Advisors LLC now owns 390 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 105 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Novavax by 315.8% during the second quarter. Steward Partners Investment Advisory LLC now owns 395 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 300 shares in the last quarter. Central Bank & Trust Co. acquired a new stake in shares of Novavax during the second quarter worth about $33,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Novavax by 19.7% during the second quarter. Nisa Investment Advisors LLC now owns 455 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 22.64% of the company’s stock.
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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