Reviewing The Case For Novavax, Inc. (NVAX) Going Higher

Currently, there are 139.51M common shares owned by the public and among those 131.81M shares have been available to trade.

The company’s stock has a 5-day price change of -5.82% and -5.62% over the past three months. NVAX shares are trading -5.62% year to date (YTD), with the 12-month market performance down to -31.26% lower. It has a 12-month low price of $3.53 and touched a high of $11.36 over the same period. NVAX has an average intraday trading volume of 8.56 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.80%, -1.90%, and -28.41% respectively.

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Institutional ownership of Novavax, Inc. (NASDAQ: NVAX) shares accounts for 55.74% of the company’s 139.51M shares outstanding.

It has a market capitalization of $633.97M and a beta (3y monthly) value of 1.61. The earnings-per-share (ttm) stands at -$5.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.07% over the week and 6.66% over the month.

Analysts forecast that Novavax, Inc. (NVAX) will achieve an EPS of -$0.95 for the current quarter, -$1.03 for the next quarter and $0.12 for 2025. The lowest estimate earnings-per-share for the quarter is -$1.48 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$3.41 a year ago. Earnings per share for the fiscal year are expected to increase by 85.27%, and 115.48% over the next financial year.

Looking at the support for the NVAX, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on August 09, 2023, with the firm’s price target at $15. TD Cowen coverage for the Novavax, Inc. (NVAX) stock in a research note released on April 20, 2023 offered a Market Perform rating with a price target of $10. B. Riley Securities was of a view on March 01, 2023 that the stock is Neutral, while B. Riley Securities gave the stock Buy rating on January 09, 2023, issuing a price target of $74- $37. H.C. Wainwright on their part issued Buy rating on December 30, 2022.

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