FY2024 Earnings Estimate for Novavax Issued By HC Wainwright

Novavax, Inc. (NASDAQ:NVAX) – Analysts at HC Wainwright reduced their FY2024 EPS estimates for Novavax in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst V. Bernardino now anticipates that the biopharmaceutical company will post earnings per share of ($1.29) for the year, down from their prior forecast of ($0.84). HC Wainwright has a “Buy” rating and a $19.00 price objective 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.

Several other equities analysts have also issued reports on the company. B. Riley restated a “buy” rating and set a $26.00 price target (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Jefferies Financial Group cut their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Trading Up 7.0 %

Shares of NASDAQ:NVAX opened at $7.83 on Monday. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86. The stock’s 50-day moving average price is $11.26 and its 200-day moving average price is $12.51. The stock has a market capitalization of $1.25 billion, a P/E ratio of -3.47 and a beta of 2.10.

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

Institutional Trading of Novavax

Several large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 1,036 shares during the period. Ensign Peak Advisors Inc raised its stake in Novavax by 3.0% in the second quarter. Ensign Peak Advisors Inc now owns 44,900 shares of the biopharmaceutical company’s stock worth $568,000 after buying an additional 1,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Novavax by 38.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,598 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in 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 period. Finally, Edgestream Partners L.P. boosted its position in Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 2,447 shares in the last quarter. 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.