Novavax, Inc. (NASDAQ:NVAX) Could Soar to Much Higher Prices in Coming Months

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Analysts gave the Novavax, Inc. (NVAX) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.4. If we narrow down to specifics, the data shows that 1 out of 7 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended NVAX as a Hold, 5 felt it is a Buy and none rated the stock as Underweight. Novavax, Inc.’s EPS for the current quarter is expected to be -$1.31.

Instantly NVAX was in green as seen at the end of in last trading. With action 1.32%, the performance over the past five days has been red. The jump to weekly highs of $130 on Monday, Dec 28 added 13.09% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.01%, with the 5-day performance at -0.13% in the red. However, in the 30-day time frame, Novavax, Inc. (NASDAQ:NVAX) is -0.11% down. Looking at the short shares, we see there were 7.23 Million shares sold at short interest cover period of 1.8 days.

The consensus price target for the stock as assigned by Wall Street analysts is $188.5, meaning bulls need an upside of 66.84% from its current market value. According to analyst projections, NVAX’s forecast low is $75 with $223 as the target high. To hit the forecast high, the stock’s price needs a +97.38% upsurge from its current level, while the stock would need to tank -33.62% for it to hit the projected low.

Novavax, Inc. (NVAX) estimates and forecasts

Data shows that the Novavax, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +42.22% over the past 6 months. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Novavax, Inc. will drop -15.9%, while the growth in revenue is estimated to hit 624.1% for the next quarter. Year-over-year growth is forecast to reach 2814.3% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $347.92 Million. 2 analysts are of the opinion that Novavax, Inc.’s revenue for the quarter ending March 01, 2021 will be $763.91 Million. The company’s revenue for the corresponding quarters a year ago was $8.82 Million and $3.38 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 3846.5%. The estimates for the next quarter sales put growth at 22521%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 5.6%. The 2021 estimates are for Novavax, Inc. earnings to increase by 44.9%, but the outlook for the next 5-year period is at 0% per year.

Novavax, Inc. (NASDAQ:NVAX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.43% of Novavax, Inc. shares while 50.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 50.79%. There are 398 institutions holding the Novavax, Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Sep 29, 2020, the company held 8.53% of the shares, roughly 5.43 Million NVAX shares worth $588.51 Million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.75% or 4.3 Million shares worth $465.55 Million as of Sep 29, 2020.

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Among Mutual Funds, the top two as of Sep 29, 2020 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 1719683 shares estimated at $186.33 Million under it, the former controlled 2.7% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.25% of the shares, roughly 1.43 Million shares worth around $154.97 Million.

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