Fintel reports that on May 10, 2024, B of A Securities upgraded their outlook for Novavax (NasdaqGS:NVAX) from Underperform to Neutral.
Analyst Price Forecast Suggests 76.89% Upside
As of May 8, 2024, the average one-year price target for Novavax is 15.71. The forecasts range from a low of 4.04 to a high of $39.90. The average price target represents an increase of 76.89% from its latest reported closing price of 8.88.
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The projected annual revenue for Novavax is 1,651MM, an increase of 65.66%. The projected annual non-GAAP EPS is 0.47.
What is the Fund Sentiment?
There are 356 funds or institutions reporting positions in Novavax. This is an decrease of 29 owner(s) or 7.53% in the last quarter. Average portfolio weight of all funds dedicated to NVAX is 0.06%, an increase of 10.72%. Total shares owned by institutions increased in the last three months by 27.69% to 85,623K shares. 
The put/call ratio of NVAX is 0.97, indicating a bullish outlook.
What are Other Shareholders Doing?
XBI – SPDR(R) S&P(R) Biotech ETF holds 14,382K shares representing 10.32% ownership of the company. In its prior filing, the firm reported owning 7,930K shares , representing an increase of 44.86%. The firm decreased its portfolio allocation in NVAX by 5.43% over the last quarter.
Shah Capital Management holds 7,781K shares representing 5.58% ownership of the company. In its prior filing, the firm reported owning 6,331K shares , representing an increase of 18.64%. The firm decreased its portfolio allocation in NVAX by 11.78% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,817K shares representing 2.74% ownership of the company. In its prior filing, the firm reported owning 2,748K shares , representing an increase of 28.01%. The firm decreased its portfolio allocation in NVAX by 17.71% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,873K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 2,304K shares , representing an increase of 19.81%. The firm decreased its portfolio allocation in NVAX by 27.37% over the last quarter.
IWM – iShares Russell 2000 ETF holds 2,518K shares representing 1.81% ownership of the company. In its prior filing, the firm reported owning 2,025K shares , representing an increase of 19.55%. The firm decreased its portfolio allocation in NVAX by 36.28% over the last quarter.
Novavax Background Information
(This description is provided by the company.)
Novavax, Inc. is a biotechnology company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent serious infectious diseases. The company’s proprietary recombinant technology platform combines the power and speed of genetic engineering to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. Novavax is conducting late-stage clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu™, its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults and will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax’ proprietary saponin-based Matrix-M™ adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.
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