Novavax (NASDAQ:NVAX) Rating Increased to Hold at TD Cowen

Novavax (NASDAQ:NVAX) was upgraded by TD Cowen to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently weighed in on NVAX. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, December 10th. BTIG Research assumed coverage on Novavax in a report on Friday. They issued a “buy” rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Novavax has a consensus rating of “Hold” and an average price target of $18.00.

Novavax Stock Up 18.0 %

NVAX opened at $8.33 on Thursday. Novavax has a 52 week low of $3.81 and a 52 week high of $23.86. The business has a 50 day moving average price of $8.52 and a two-hundred day moving average price of $10.00. The company has a market cap of $1.33 billion, a PE ratio of -3.69, a P/E/G ratio of 2.85 and a beta of 2.14.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter last year, the company earned ($1.44) EPS. As a group, sell-side analysts expect that Novavax will post -1.46 EPS for the current fiscal year.

Insider Activity

In other news, Director James F. Young sold 5,400 shares of Novavax stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $8.00, for a total transaction of $43,200.00. Following the completion of the transaction, the director now owns 51,760 shares of the company’s stock, valued at $414,080. The trade was a 9.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rachel K. King sold 4,150 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $9.02, for a total transaction of $37,433.00. Following the completion of the sale, the director now directly owns 14,770 shares in the company, valued at approximately $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,150 shares of company stock worth $119,641. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NVAX. GF Fund Management CO. LTD. acquired a new stake in Novavax during the 4th quarter valued at $27,000. Spire Wealth Management purchased a new stake in shares of Novavax in the fourth quarter valued at $29,000. New Age Alpha Advisors LLC acquired a new stake in shares of Novavax during the fourth quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. increased its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares in the last quarter. Finally, KBC Group NV raised its stake in Novavax by 97.0% in the 4th quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 3,917 shares during the last quarter. 53.04% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

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.