B. Riley Has Negative Estimate for Novavax FY2024 Earnings

Novavax, Inc. (NASDAQ:NVAX) – Research analysts at B. Riley cut their FY2024 earnings estimates for Novavax in a note issued to investors on Monday, November 18th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings of ($1.41) per share for the year, down from their prior estimate of ($0.12). B. Riley currently has a “Buy” rating and a $26.00 price objective on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.40) per share. B. Riley also issued estimates for Novavax’s Q4 2024 earnings at ($0.71) EPS, Q1 2025 earnings at ($0.49) EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($0.57) EPS, FY2026 earnings at $2.17 EPS, FY2027 earnings at $1.69 EPS and FY2028 earnings at $1.10 EPS.

NVAX has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group dropped their target price on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. One equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.83.

Novavax Stock Up 0.4 %

Shares of NVAX opened at $8.09 on Wednesday. The stock’s fifty day simple moving average is $10.99 and its 200-day simple moving average is $12.52. The firm has a market capitalization of $1.30 billion, a PE ratio of -3.57 and a beta of 2.10. Novavax has a 12-month low of $3.53 and a 12-month high of $23.86.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. Banque Cantonale Vaudoise lifted its stake in Novavax by 500.0% in the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 2,500 shares in the last quarter. Amalgamated Bank lifted its position in Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,036 shares in the last quarter. Swedbank AB acquired a new position in Novavax in the 1st quarter worth $26,000. Signaturefd LLC increased its holdings in Novavax by 214.5% during the 2nd quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 3,874 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,598 shares during the period. 53.04% of the stock is currently owned by institutional investors.

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.