Novavax (NASDAQ:NVAX) Shares Gap Up on Analyst Upgrade

Novavax, Inc. (NASDAQ:NVAX) gapped up before the market opened on Thursday after HC Wainwright raised their price target on the stock from $10.00 to $17.00. The stock had previously closed at $7.61, but opened at $6.04. HC Wainwright currently has a buy rating on the stock. Novavax shares last traded at $6.52, with a volume of 96,999 shares changing hands.

Several other equities research analysts also recently weighed in on NVAX. Zacks Investment Research raised Novavax from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Thursday, May 16th. Cantor Fitzgerald reissued a “hold” rating on shares of Novavax in a report on Thursday, May 9th. Oppenheimer raised their price objective on Novavax from $1.25 to $25.00 in a report on Monday, May 13th. Chardan Capital reissued a “neutral” rating and set a $7.00 price objective on shares of Novavax in a report on Friday, May 10th. Finally, ValuEngine raised Novavax from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $40.70.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. A.R.T. Advisors LLC bought a new stake in shares of Novavax in the 2nd quarter worth about $435,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Novavax in the 2nd quarter worth about $510,000. GSA Capital Partners LLP bought a new stake in shares of Novavax in the 2nd quarter worth about $197,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Novavax by 86.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,537,130 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 713,752 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Novavax by 21.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 123,100 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 22,000 shares during the last quarter.

The company has a fifty day moving average price of $4.76. The firm has a market cap of $96.17 million, a PE ratio of -0.66 and a beta of 2.21.

Novavax (NASDAQ:NVAX) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.08). The firm had revenue of $3.36 million for the quarter, compared to analysts’ expectations of $3.53 million. During the same quarter in the previous year, the business posted ($2.40) EPS. As a group, equities analysts forecast that Novavax, Inc. will post -5.81 EPS for the current year.

Novavax Company Profile (NASDAQ:NVAX)

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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