B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Novavax (NVAX) today and set a price target of $257.00. The company’s shares closed last Tuesday at $149.48.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 14.9% and a 49.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novavax with a $227.60 average price target, a 34.1% upside from current levels. In a report issued on August 5, Cantor Fitzgerald also maintained a Buy rating on the stock with a $211.00 price target.
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Based on Novavax’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.38 million and GAAP net loss of $25.86 million. In comparison, last year the company earned revenue of $3.98 million and had a GAAP net loss of $43.22 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVAX in relation to earlier this year. Most recently, in June 2020, Gregory Glenn, the President of NVAX sold 16,749 shares for a total of $997,068.
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. Its vaccine candidates include ResVax and NanoFlu. It also develops immune stimulating saponin-based adjuvants through its wholly owned Swedish subsidiary, Novavax AB. The company was founded in 1987 and is headquartered in Gaithersburg, MD.
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