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

Novavax, Inc. (NASDAQ:NVAX) gapped up prior to trading 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.

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

Several large investors have recently made changes to their positions in the company. Amalgamated Bank raised its stake in shares of Novavax by 32.0% in the fourth quarter. Amalgamated Bank now owns 54,361 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 13,171 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Novavax by 30.9% in the fourth quarter. Legal & General Group Plc now owns 74,389 shares of the biopharmaceutical company’s stock worth $137,000 after purchasing an additional 17,575 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Novavax by 21.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 123,100 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 22,000 shares during the last quarter. Wedbush Securities Inc. raised its position in Novavax by 102.1% during the first quarter. Wedbush Securities Inc. now owns 54,444 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 27,500 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Novavax during the second quarter valued at approximately $197,000.

The firm has a 50-day moving average of $4.79 and a two-hundred day moving average of $3.15. The company has a market capitalization of $158.36 million, a PE ratio of -0.66 and a beta of 2.21.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.61) by ($0.08). The company had revenue of $3.36 million during the quarter, compared to the consensus estimate of $3.53 million. During the same period in the prior year, the company posted ($2.40) EPS. On average, equities research analysts expect that Novavax, Inc. will post -5.81 EPS for the current fiscal year.

About Novavax (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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