Trade Report: The Novavax’s (NVAX) “Outperform” Rating Reaffirmed at FBR & Co

The Novavax’s (NVAX) “Outperform” Rating Reaffirmed at FBR & Co

FBR & Co reiterated their outperform rating on shares of Novavax Inc. (NASDAQ:NVAX) in a research report released on Monday. They currently have a $12.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the company. Zacks Investment Research raised Novavax from a sell rating to a hold rating in a research note on Wednesday, September 21st. Chardan Capital reduced their price objective on Novavax from $5.75 to $1.50 and set a neutral rating on the stock in a research note on Tuesday, September 20th. S&P Equity Research cut their price target on Novavax from $1.44 to $1.17 in a research note on Friday, September 16th. Citigroup Inc. lowered Novavax from a buy rating to a neutral rating and cut their price target for the company from $12.00 to $1.50 in a research note on Friday, September 16th. Finally, JPMorgan Chase & Co. lowered Novavax from an overweight rating to a neutral rating in a research note on Friday, September 16th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $7.06.

Novavax (NASDAQ:NVAX) opened at 1.63 on Monday. Novavax has a 12 month low of $1.16 and a 12 month high of $9.23. The firm’s market capitalization is $441.46 million. The company has a 50 day moving average price of $4.27 and a 200 day moving average price of $5.80.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.04. The business earned $2.50 million during the quarter, compared to analyst estimates of $8.03 million. Novavax had a negative net margin of 1,405.84% and a negative return on equity of 112.45%. The business’s quarterly revenue was down 82.1% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. Analysts anticipate that Novavax will post ($1.09) earnings per share for the current fiscal year.

In related news, Director Michael A. Mcmanus, Jr. acquired 30,000 shares of the stock in a transaction dated Wednesday, September 21st. The stock was bought at an average cost of $1.61 per share, for a total transaction of $48,300.00. Following the completion of the transaction, the director now directly owns 247,590 shares of the company’s stock, valued at $398,619.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Trizzino bought 46,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was acquired at an average price of $2.17 per share, with a total value of $99,820.00. Following the completion of the acquisition, the senior vice president now owns 85,564 shares of the company’s stock, valued at approximately $185,673.88. The disclosure for this purchase can be found here. Insiders own 3.50% of the company’s stock.

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Novavax by 7.5% in the second quarter. Vanguard Group Inc. now owns 19,935,014 shares of the biopharmaceutical company’s stock worth $144,928,000 after buying an additional 1,385,637 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Novavax by 43.4% in the first quarter. Wellington Management Group LLP now owns 12,711,938 shares of the biopharmaceutical company’s stock worth $65,593,000 after buying an additional 3,849,585 shares during the last quarter. State Street Corp increased its stake in shares of Novavax by 40.1% in the first quarter. State Street Corp now owns 12,320,840 shares of the biopharmaceutical company’s stock worth $63,579,000 after buying an additional 3,527,714 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Novavax by 1.7% in the first quarter. BlackRock Fund Advisors now owns 10,143,371 shares of the biopharmaceutical company’s stock worth $52,340,000 after buying an additional 165,145 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of Novavax by 40.3% in the second quarter. Janus Capital Management LLC now owns 7,441,710 shares of the biopharmaceutical company’s stock worth $54,100,000 after buying an additional 2,136,258 shares during the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.

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