Novavax, Inc. (NASDAQ:NVAX) to Post Q3 2024 Earnings of ($0.87) Per Share, B. Riley Forecasts

Novavax, Inc. (NASDAQ:NVAX) – Stock analysts at B. Riley boosted their Q3 2024 earnings estimates for shares of Novavax in a research note issued on Thursday, October 10th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will earn ($0.87) per share 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.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. raised 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 restated a “buy” rating and set a $31.00 price target on shares of Novavax in a research report on Wednesday, October 2nd. One equities research 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, Novavax has a consensus rating of “Hold” and an average price target of $18.83.

Novavax Price Performance

Shares of Novavax stock opened at $12.53 on Monday. The stock has a market cap of $1.76 billion, a PE ratio of -3.95 and a beta of 2.04. The firm has a fifty day moving average price of $12.47 and a 200 day moving average price of $11.52. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86.

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

Institutional Trading of Novavax

Institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its holdings in Novavax by 95.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,878 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 13,135 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in Novavax by 23.9% in 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 buying an additional 265,250 shares during the last quarter. Swiss National Bank increased its holdings in Novavax by 17.1% in the first quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 30,800 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Novavax during the first quarter valued at approximately $1,499,000. Finally, Headlands Technologies LLC grew its holdings in Novavax by 1,084.0% during the first quarter. Headlands Technologies LLC now owns 55,137 shares of the biopharmaceutical company’s stock valued at $264,000 after purchasing an additional 50,480 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

About Novavax

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.