FY2024 Earnings Estimate for Novavax Issued By HC Wainwright

Novavax, Inc. (NASDAQ:NVAX) – Investment analysts at HC Wainwright cut their FY2024 EPS estimates for Novavax in a report issued on Wednesday, November 13th. HC Wainwright analyst V. Bernardino now forecasts that the biopharmaceutical company will post earnings per share of ($1.29) for the year, down from their prior estimate of ($0.84). HC Wainwright currently has a “Buy” rating and a $19.00 target price on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Novavax’s Q4 2024 earnings at ($0.59) EPS and FY2025 earnings at $1.06 EPS.

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

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Finally, 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 research note on Wednesday, October 16th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.83.

Novavax Price Performance

NASDAQ:NVAX opened at $8.00 on Monday. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86. The company has a 50-day moving average of $11.16 and a 200 day moving average of $12.53. The firm has a market cap of $1.28 billion, a PE ratio of -3.54 and a beta of 2.10.

Institutional Trading of Novavax

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in Novavax by 26.9% in the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,036 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Novavax by 3.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 1,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Novavax by 38.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,598 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Novavax by 12.0% in the third quarter. Victory Capital Management Inc. now owns 19,292 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 2,072 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its stake in shares of Novavax by 23.7% during the first quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 2,447 shares during the period. Institutional investors and hedge funds own 53.04% of the company’s stock.

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.