Zacks Research Has Weak Forecast for Novavax FY2024 Earnings

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Novavax in a report issued on Tuesday, December 3rd. Zacks Research analyst S. Ganoria now expects that the biopharmaceutical company will post earnings per share of ($1.56) for the year, down from their prior 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.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. During the same quarter last year, the business earned ($1.26) EPS. Novavax’s quarterly revenue was down 54.8% compared to the same quarter last year.

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

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $8.94 on Friday. The company has a market capitalization of $1.43 billion, a PE ratio of -3.96 and a beta of 2.02. The company’s fifty day moving average is $9.99 and its 200-day moving average is $12.38. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

Institutional Trading of Novavax

A number of large investors have recently added to or reduced their stakes in NVAX. Price T Rowe Associates Inc. MD raised its holdings in shares of Novavax by 17.0% in 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 period. California State Teachers Retirement System lifted its position in shares of 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 during the last quarter. Tidal Investments LLC bought a new position in shares of Novavax during the 1st quarter worth approximately $172,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Novavax during the 2nd quarter worth approximately $216,000. Finally, Bank of New York Mellon Corp raised its stake in 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 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.