Zacks Research Issues Negative Forecast for Novavax Earnings

Novavax, Inc. (NASDAQ:NVAX) – Zacks Research reduced their FY2024 earnings per share estimates for Novavax in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst S. Ganoria now expects that the biopharmaceutical company will earn ($1.56) per share for the year, down from their previous estimate of ($1.26). The consensus estimate for Novavax’s current full-year earnings is ($1.44) per share. Zacks Research also issued estimates for Novavax’s Q4 2024 earnings at ($0.74) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.77) EPS, Q1 2026 earnings at ($0.19) EPS, Q2 2026 earnings at $0.04 EPS, Q3 2026 earnings at $0.06 EPS and FY2026 earnings at $0.35 EPS.

NVAX has been the subject of several other reports. JPMorgan Chase & Co. boosted their price target on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. B. Riley reiterated a “buy” rating and set a $26.00 target price (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Jefferies Financial Group reduced their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, HC Wainwright restated a “buy” rating and issued a $19.00 price target on shares of Novavax in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Up 7.7 %

Shares of NASDAQ:NVAX opened at $8.94 on Friday. The company’s 50 day moving average price is $9.99 and its two-hundred day moving average price is $12.38. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86. The firm has a market cap of $1.43 billion, a PE ratio of -3.96 and a beta of 2.02.

Novavax (NASDAQ:NVAX) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. During the same period in the previous year, the firm posted ($1.26) EPS. The company’s revenue was down 54.8% compared to the same quarter last year.

Institutional Trading of Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. Price T Rowe Associates Inc. MD grew its holdings in shares of Novavax by 17.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,065 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 8,128 shares during the last quarter. California State Teachers Retirement System boosted its position in Novavax by 11.3% in the first quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock valued at $514,000 after buying an additional 10,949 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Novavax during the first quarter worth $172,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Novavax during the second quarter worth $216,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Novavax by 34.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 533,942 shares of the biopharmaceutical company’s stock valued at $6,760,000 after acquiring an additional 136,472 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors.

Novavax Company Profile

Novavax, Inc, a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases. It offers vaccine platform that combines a recombinant protein approach, nanoparticle technology, and its patented Matrix-M adjuvant to enhance the immune response.