HC Wainwright Estimates Novavax’s Q3 Earnings (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – Stock analysts at HC Wainwright issued their Q3 2024 earnings estimates for shares of Novavax in a note issued to investors on Tuesday, November 12th. HC Wainwright analyst V. Bernardino anticipates that the biopharmaceutical company will post earnings of ($0.64) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $19.00 price target on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.01) 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.

A number of other brokerages also recently commented on NVAX. JPMorgan Chase & Co. boosted their price objective 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. B. Riley reiterated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, Jefferies Financial Group reduced their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Novavax has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Stock Performance

Shares of NVAX opened at $7.32 on Thursday. The company’s 50 day moving average price is $11.35 and its 200 day moving average price is $12.38. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86. The company has a market capitalization of $1.17 billion, a PE ratio of -3.24 and a beta of 2.10.

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

Institutional Trading of Novavax

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Novavax by 73.9% in the third quarter. Barclays PLC now owns 709,579 shares of the biopharmaceutical company’s stock worth $8,961,000 after buying an additional 301,627 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Novavax by 147.6% in the third quarter. XTX Topco Ltd now owns 63,126 shares of the biopharmaceutical company’s stock worth $797,000 after buying an additional 37,631 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Novavax in the third quarter worth $923,000. Two Sigma Advisers LP lifted its stake in shares of Novavax by 48.9% in the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock worth $25,252,000 after buying an additional 656,900 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Novavax by 26.7% in the third quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock worth $97,099,000 after buying an additional 1,621,772 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.