Novavax (NASDAQ:NVAX) Trading 3.8% Higher – Should You Buy?

Novavax, Inc. (NASDAQ:NVAX) shares shot up 3.8% on Friday . The stock traded as high as $5.70 and last traded at $5.81. 2,094,600 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 8,042,809 shares. The stock had previously closed at $5.60.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, December 10th. TD Cowen upgraded Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, BTIG Research began coverage on shares of Novavax in a report on Friday, February 28th. They issued a “buy” rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Novavax currently has a consensus rating of “Hold” and an average target price of $18.00.

Novavax Stock Up 11.4 %

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -2.76, a price-to-earnings-growth ratio of 2.85 and a beta of 2.92. The business has a 50 day moving average price of $7.84 and a 200-day moving average price of $9.11.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.24. The firm had revenue of $88.31 million during the quarter, compared to analyst estimates of $85.48 million. During the same period last year, the business earned ($1.44) EPS. Research analysts anticipate that Novavax, Inc. will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novavax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Novavax by 12.3% during the fourth quarter. California State Teachers Retirement System now owns 135,486 shares of the biopharmaceutical company’s stock valued at $1,089,000 after acquiring an additional 14,853 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Novavax during the 4th quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Novavax by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 268,684 shares of the biopharmaceutical company’s stock valued at $2,160,000 after purchasing an additional 44,359 shares in the last quarter. Twinbeech Capital LP purchased a new stake in Novavax during the 4th quarter worth approximately $555,000. Finally, Sanofi acquired a new position in shares of Novavax in the 4th quarter valued at approximately $55,319,000. 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.