Market Analysts see Novavax, Inc. [NVAX] gaining to $15. Time to buy?

Novavax, Inc. [NASDAQ: NVAX] slipped around -0.16 points on Wednesday, while shares priced at $4.26 at the close of the session, down -3.62%. The company report on April 1, 2024 at 8:00 AM that Novavax Presents Data on Updated COVID-19 Vaccine and Progress to Date on its COVID-19-Influenza Combination Vaccine Candidate at World Vaccine Congress 2024.

Novavax, Inc. (Nasdaq: NVAX), a global company advancing protein-based vaccines with its Matrix-M™ adjuvant, will showcase continued progress on data from its updated COVID-19 vaccine (NVX-CoV2601) and provide an overview of its influenza and COVID-19-Influenza Combination (CIC) vaccine candidates at the World Vaccine Congress 2024 (WVC) in Washington, DC, April 2 to 4, 2024.

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New data from Novavax’s ongoing research on its updated XBB.1.5 COVID-19 vaccine in participants who previously received an mRNA vaccine showed robust neutralizing antibody titers for the XBB.1.5 subvariant as well as for the currently circulating JN.1 subvariant. Data also showed that the vaccine’s safety and reactogenicity profile was consistent with its prototype vaccine (NVX-CoV2373).

Compared to the average trading volume of 7.78M shares, NVAX reached a trading volume of 5289270 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $15.40 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 2.50. 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.

B. Riley Securities have made an estimate for Novavax, Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 09, 2023. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $55 to $10. The new note on the price target was released on April 20, 2023, representing the official price target for Novavax, Inc. stock. Previously, the target price had yet another drop from $29 to $10, while B. Riley Securities kept a Neutral rating on NVAX stock. On January 09, 2023, analysts decreased their price target for NVAX shares from 74 to 37.

The Average True Range (ATR) for Novavax, Inc. is set at 0.30, with the Price to Sales ratio for NVAX stock in the period of the last 12 months amounting to 0.61.

How has NVAX stock performed recently?

Novavax, Inc. [NVAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.17. With this latest performance, NVAX shares dropped by -16.96% in over the last four-week period, additionally sinking by -40.67% over the last 6 months – not to mention a drop of -46.75% 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 37.36, with the RSI for the last a single of trading hit 28.15, and the three-weeks RSI is set at 41.82 for Novavax, Inc. [NVAX]. The present Moving Average for the last 50 days of trading for this stock 4.66, while it was recorded at 4.39 for the last single week of trading, and 6.22 for the last 200 days.

Novavax, Inc. [NVAX]: Deeper insight into the fundamentals

Novavax, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.67 and a Current Ratio set at 0.70.

Earnings analysis for Novavax, Inc. [NVAX]

With the latest financial reports released by the company, Novavax, Inc. posted -3.41/share EPS, while the average EPS was predicted by analysts to be reported at -3.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.40%. 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.

Insider trade positions for Novavax, Inc. [NVAX]

The top three institutional holders of NVAX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NVAX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NVAX stock with ownership which is approximately 5.8386%.

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