BofA Securities slashes price target on Novavax Inc. [NVAX] – find out why.

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Novavax Inc. [NASDAQ: NVAX] stock went on a downward path that fall over -0.25% on Wednesday, amounting to a one-week price decrease of less than -5.30%. The company report on July 26, 2022 that Novavax Announces Expanded Approval of Nuvaxovid™ COVID-19 Vaccine for Adolescents Aged 12 through 17 in Japan.


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Nuvaxovid™ is the first protein-based COVID-19 vaccine approved for use in adolescents in Japan.

Novavax, Inc. (Nasdaq: NVAX), a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, today announced that Nuvaxovid™ (NVX-CoV2373) COVID-19 vaccine received expanded manufacturing and marketing approval from the Japan Ministry of Health, Labour and Welfare (MHLW) for primary immunization to prevent coronavirus disease 2019 (COVID-19) caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) in adolescents aged 12 through 17. Novavax has partnered with Takeda to develop, manufacture, and distribute Nuvaxovid in Japan.

Over the last 12 months, NVAX stock dropped by -70.83%. The one-year Novavax Inc. stock forecast points to a potential upside of 62.54. The average equity rating for NVAX stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.74 billion, with 76.46 million shares outstanding and 75.90 million shares in the current float. Compared to the average trading volume of 7.55M shares, NVAX stock reached a trading volume of 4323681 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Novavax Inc. [NVAX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVAX shares is $150.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVAX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Novavax Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 20, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $315 to $265. The new note on the price target was released on February 23, 2022, representing the official price target for Novavax Inc. stock. Previously, the target price had yet another raise to $198, while Jefferies analysts kept a Buy rating on NVAX stock.

The Average True Range (ATR) for Novavax Inc. is set at 6.09, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 3.38. The Price to Book ratio for the last quarter was 66.36.

NVAX Stock Performance Analysis:

Novavax Inc. [NVAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.30. With this latest performance, NVAX shares gained by 4.81% in over the last four-week period, additionally sinking by -29.02% over the last 6 months – not to mention a drop of -70.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVAX stock in for the last two-week period is set at 49.73, with the RSI for the last a single of trading hit 47.82, and the three-weeks RSI is set at 50.21 for Novavax Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 52.87, while it was recorded at 56.45 for the last single week of trading, and 99.63 for the last 200 days.

Insight into Novavax Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Novavax Inc. [NVAX] shares currently have an operating margin of -147.13 and a Gross Margin at +98.90. Novavax Inc.’s Net Margin is presently recorded at -152.12.

Return on Equity for this stock declined to -1,265.72, with Return on Assets sitting at -83.85.

Novavax Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

NVAX Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Novavax Inc. go to 0.00%.

Novavax Inc. [NVAX] Insider Position Details

There are presently around $1,876 million, or 43.70% of NVAX stock, in the hands of institutional investors. The top three institutional holders of NVAX stocks are: VANGUARD GROUP INC with ownership of 6,966,943, which is approximately 1.014% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 4,515,805 shares of the stock with an approximate value of $254.74 million in NVAX stocks shares; and STATE STREET CORP, currently with $140.77 million in NVAX stock with ownership of nearly 31.398% of the company’s market capitalization.

Positions in Novavax Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 203 institutional holders increased their position in Novavax Inc. [NASDAQ:NVAX] by around 6,185,564 shares. Additionally, 209 investors decreased positions by around 6,326,322 shares, while 71 investors held positions by with 20,750,238 shares. The mentioned changes placed institutional holdings at 33,262,124 shares, according to the latest SEC report filing. NVAX stock had 64 new institutional investments in for a total of 2,308,247 shares, while 113 institutional investors sold positions of 889,617 shares during the same period.

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