FY2024 Earnings Estimate for Novavax Issued By HC Wainwright

Novavax, Inc. (NASDAQ:NVAX) – HC Wainwright lowered their FY2024 earnings per share (EPS) estimates for Novavax in a research report issued on Wednesday, November 13th. HC Wainwright analyst V. Bernardino now expects that the biopharmaceutical company will earn ($1.29) per share for the year, down from their previous forecast of ($0.84). HC Wainwright currently has a “Buy” rating and a $19.00 target price 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 brokerages also recently commented on NVAX. JPMorgan Chase & Co. upped their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Monday, August 12th. Jefferies Financial Group reduced their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, B. Riley reissued a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One equities research 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. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and a consensus target price of $17.83.

Novavax Stock Up 1.4 %

Shares of NASDAQ NVAX opened at $7.32 on Monday. Novavax has a 12 month low of $3.53 and a 12 month high of $23.86. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -3.24 and a beta of 2.10. The business has a fifty day simple moving average of $11.26 and a 200-day simple moving average of $12.45.

Novavax (NASDAQ:NVAX) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.07. The company had revenue of $84.51 million for the quarter, compared to analysts’ expectations of $65.80 million. During the same period in the prior year, the company earned ($1.26) earnings per share. The company’s revenue for the quarter was down 54.8% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its position in Novavax by 500.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,500 shares during the last quarter. Amalgamated Bank increased its position in 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 last quarter. Swedbank AB acquired a new position in Novavax in the 1st quarter worth about $26,000. Signaturefd LLC increased its position in Novavax by 214.5% in 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $77,000 after purchasing an additional 1,598 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.

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.