B. Riley Brokers Raise Earnings Estimates for Novavax, Inc. (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – B. Riley raised their Q3 2024 earnings estimates for Novavax in a research note issued on Thursday, October 10th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will post earnings per share of ($0.87) for the quarter, up from their prior forecast of ($0.95). B. Riley has a “Buy” rating and a $26.00 price target on the stock. The consensus estimate for Novavax’s current full-year earnings is ($0.97) per share. B. Riley also issued estimates for Novavax’s Q4 2024 earnings at $0.14 EPS, FY2024 earnings at ($0.12) EPS, FY2025 earnings at ($0.47) EPS, FY2026 earnings at $2.34 EPS, FY2027 earnings at $1.70 EPS and FY2028 earnings at $1.58 EPS.

NVAX has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Jefferies Financial Group reiterated a “buy” rating and set a $31.00 price target on shares of Novavax in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.83.

Novavax Trading Up 0.7 %

NVAX stock opened at $12.62 on Monday. The firm has a 50 day moving average of $12.47 and a 200-day moving average of $11.57. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -3.98 and a beta of 2.04.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.83). The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $458.57 million. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year.

Hedge Funds Weigh In On Novavax

Several institutional investors and hedge funds have recently modified their holdings of NVAX. Shah Capital Management increased its position in Novavax by 19.0% during the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after purchasing an additional 1,544,263 shares during the last quarter. TSP Capital Management Group LLC increased its position in Novavax by 23.9% during the first quarter. TSP Capital Management Group LLC now owns 1,376,950 shares of the biopharmaceutical company’s stock worth $6,582,000 after purchasing an additional 265,250 shares during the last quarter. SG Americas Securities LLC increased its position in Novavax by 940.7% during the third quarter. SG Americas Securities LLC now owns 1,154,276 shares of the biopharmaceutical company’s stock worth $14,579,000 after purchasing an additional 1,043,363 shares during the last quarter. Farallon Capital Management LLC acquired a new position in Novavax during the first quarter worth approximately $5,406,000. Finally, Renaissance Technologies LLC acquired a new position in Novavax during the second quarter worth approximately $14,055,000. Hedge funds and other institutional investors 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.