Research Analysts Offer Predictions for Novavax Q3 Earnings

Novavax, Inc. (NASDAQ:NVAX) – Analysts at HC Wainwright issued their Q3 2024 EPS estimates for shares of Novavax in a research report issued on Tuesday, November 12th. HC Wainwright analyst V. Bernardino forecasts that the biopharmaceutical company will post earnings per share of ($0.64) for the quarter. HC Wainwright has a “Buy” rating and a $19.00 price target on the stock. The consensus estimate for Novavax’s current full-year earnings is ($0.90) per share. HC Wainwright also issued estimates for Novavax’s Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at $0.09 EPS.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.11. The company had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. During the same period in the prior year, the firm posted ($1.26) EPS. The business’s revenue was down 54.8% on a year-over-year basis.

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

Novavax Stock Down 7.0 %

Shares of NASDAQ NVAX opened at $7.22 on Thursday. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86. The business has a fifty day simple moving average of $11.44 and a two-hundred day simple moving average of $12.41. The firm has a market cap of $1.16 billion, a PE ratio of -3.40 and a beta of 2.10.

Institutional Investors Weigh In On Novavax

Several institutional investors have recently bought and sold shares of NVAX. Swedbank AB acquired a new position in shares of Novavax during the first quarter valued at about $26,000. Banque Cantonale Vaudoise lifted its stake in shares of Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 2,500 shares during the period. Herr Investment Group LLC acquired a new stake in shares of Novavax during the first quarter worth $48,000. Alpine Global Management LLC purchased a new stake in shares of Novavax during the first quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. raised its stake in Novavax by 31.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,711 shares during the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.