B. Riley Boosts Novavax (NASDAQ:NVAX) Price Target to $106.00

Novavax (NASDAQ:NVAX) had its target price upped by B. Riley from $74.00 to $106.00 in a research note published on Monday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the biopharmaceutical company’s stock. B. Riley also issued estimates for Novavax’s Q2 2020 earnings at $0.54 EPS, Q3 2020 earnings at $1.52 EPS, Q4 2020 earnings at $6.28 EPS, FY2020 earnings at $8.20 EPS, FY2021 earnings at $19.25 EPS, FY2022 earnings at $5.56 EPS, FY2023 earnings at $7.84 EPS and FY2024 earnings at $9.65 EPS.

Several other equities analysts also recently commented on the company. Zacks Investment Research raised Novavax from a hold rating to a buy rating and set a $58.00 target price on the stock in a research report on Thursday, June 18th. BidaskClub raised Novavax from a buy rating to a strong-buy rating in a research report on Friday, May 15th. Cantor Fitzgerald upped their target price on Novavax from $45.00 to $88.00 and gave the company an overweight rating in a research report on Friday, June 19th. JPMorgan Chase & Co. raised Novavax from an underweight rating to a neutral rating and set a $46.00 target price on the stock in a research report on Friday, June 5th. Finally, HC Wainwright increased their price target on Novavax from $50.00 to $101.00 and gave the stock a buy rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Novavax has an average rating of Buy and a consensus target price of $62.81.

NASDAQ:NVAX opened at $81.64 on Monday. Novavax has a 12-month low of $3.54 and a 12-month high of $89.50. The stock’s 50 day moving average price is $54.39 and its two-hundred day moving average price is $21.59. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -19.72 and a beta of 1.49.

Novavax (NASDAQ:NVAX) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.09. The firm had revenue of $3.38 million during the quarter, compared to analyst estimates of $3.50 million. During the same period in the previous year, the company posted ($2.20) EPS. On average, equities research analysts forecast that Novavax will post 0.04 earnings per share for the current fiscal year.

In other Novavax news, Director James F. Young bought 1,500 shares of Novavax stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $48.83 per share, with a total value of $73,245.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gregory M. Glenn sold 16,749 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $59.53, for a total value of $997,067.97. Following the completion of the sale, the insider now directly owns 18,588 shares in the company, valued at approximately $1,106,543.64. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its holdings in shares of Novavax by 42.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,326 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 690 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Novavax by 9.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,587 shares of the biopharmaceutical company’s stock valued at $198,000 after acquiring an additional 1,236 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Novavax by 36.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,406 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 1,433 shares during the last quarter. American International Group Inc. lifted its stake in shares of Novavax by 10.2% in the 4th quarter. American International Group Inc. now owns 16,638 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Novavax by 4.8% in the 1st quarter. Squarepoint Ops LLC now owns 45,251 shares of the biopharmaceutical company’s stock valued at $615,000 after acquiring an additional 2,075 shares during the last quarter. 22.80% of the stock is currently owned by hedge funds and other institutional investors.

About Novavax

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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