In a report released today, Matthew Lillis from Cantor Fitzgerald maintained a Hold rating on Novavax (NVAX), with a price target of $0.50. The company’s shares closed on Friday at $6.57, close to its 52-week low of $5.83.
Lillis said:
“: We reaffirm our Neutral rating and are adjusting our price target to $7 for NVAX stock to account for the 1 for 20 reverse split effected by the company on Friday, May 10. While the company believes the reverse split will allow for a renewed focus on the opportunities that exist for NanoFlu and ResVax as well as provide flexibility for upcoming capital needs, we believe questions remain regarding a path forward for ResVax. Further, in our view the key to evaluating the fair value of the stock is understanding the need for and access to additional capital to further advance both programs while retaining their potential value and we remain challenged in assessing how much value would ultimately accrue to NVAX.”
According to TipRanks.com, Lillis is a 4-star analyst with an average return of 17.6% and a 52.9% success rate. Lillis covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Supernus Pharmaceuticals, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novavax with a $22.63 average price target, which is a 244.4% upside from current levels. In a report issued on May 10, Chardan Capital also reiterated a Hold rating on the stock with a $7 price target.
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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.
