Novavax (NASDAQ:NVAX) has been given a $1.00 price objective by equities research analysts at Cantor Fitzgerald in a research note issued on Tuesday. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 55.71% from the company’s previous close.
Several other analysts have also commented on the stock. Piper Jaffray Companies lifted their price objective on shares of Novavax to $4.50 and gave the stock a “positive” rating in a research report on Thursday, January 3rd. HC Wainwright initiated coverage on shares of Novavax in a research report on Monday, January 28th. They issued a “buy” rating and a $6.00 price objective on the stock. BidaskClub raised shares of Novavax from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. JPMorgan Chase & Co. lowered shares of Novavax from an “overweight” rating to an “underweight” rating in a research report on Thursday, February 28th. Finally, Oppenheimer initiated coverage on shares of Novavax in a research report on Monday, December 10th. They issued an “outperform” rating and a $4.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Novavax has an average rating of “Hold” and an average price target of $3.01.
Shares of NVAX stock opened at $0.64 on Tuesday. The stock has a market capitalization of $199.46 million, a price-to-earnings ratio of -1.28 and a beta of 2.08. Novavax has a 52 week low of $0.49 and a 52 week high of $2.58.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Novavax by 131.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,729 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 9,515 shares during the period. Opti Capital Management LP bought a new stake in shares of Novavax in the fourth quarter valued at approximately $39,000. B. Riley Wealth Management Inc. bought a new stake in shares of Novavax in the third quarter valued at approximately $47,000. Toroso Investments LLC bought a new stake in shares of Novavax in the fourth quarter valued at approximately $82,000. Finally, Amalgamated Bank raised its position in shares of Novavax by 32.0% in the fourth quarter. Amalgamated Bank now owns 54,361 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 13,171 shares during the period. 41.41% of the stock is currently owned by institutional investors.
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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