Cantor Fitzgerald Sticks to Their Hold Rating for Novavax (NVAX)


Cantor Fitzgerald analyst Matthew Lillis maintained a Hold rating on Novavax (NVAX) today and set a price target of $0.50. The company’s shares closed yesterday at $0.40, close to its 52-week low of $0.36.

Lillis said:

“Our Neutral rating for NVAX stock is based on the uncertainty as to how the company’s technologies will be applied in the successful development of proprietary vaccines and where or how NVAX will access the capital necessary to realize that potential. Positive data for vaccine candidates would be a catalyst for share price appreciation, in our view. Valuation Summary We estimate the aggregate technical value of the programs to be higher than the current market price, but question where/how NVAX could access capital to realize that value.”

According to TipRanks.com, Lillis is a 3-star analyst with an average return of 10.8% and a 43.8% success rate. Lillis covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Supernus Pharmaceuticals, and Evofem Biosciences Inc.

Currently, the analyst consensus on Novavax is a Moderate Buy with an average price target of $1.41.

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Based on Novavax’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $43.22 million. In comparison, last year the company had a GAAP net loss of $46.35 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVAX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Novavax, Inc. is a late-stage biotechnology company, which focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It produces vaccine candidates to respond to both known and emerging disease threats by using the proprietary recombinant nanoparticle vaccine technology.

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