What is HC Wainwright’s Estimate for Novavax Q3 Earnings?

Novavax, Inc. (NASDAQ:NVAX) – HC Wainwright issued their Q3 2024 earnings per share estimates for Novavax in a report released on Tuesday, November 12th. HC Wainwright analyst V. Bernardino expects that the biopharmaceutical company will post earnings of ($0.64) per share for the quarter. 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 ($0.90) 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.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, B. Riley restated a “buy” rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.83.

Novavax Stock Performance

Novavax stock opened at $7.22 on Thursday. The stock has a market cap of $1.16 billion, a PE ratio of -3.40 and a beta of 2.10. The stock has a fifty day moving average of $11.44 and a 200 day moving average of $12.41. Novavax has a one year low of $3.53 and a one year high of $23.86.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.11. The company had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. During the same quarter in the prior year, the company posted ($1.26) EPS. Novavax’s revenue was down 54.8% on a year-over-year basis.

Institutional Investors Weigh In On Novavax

Several large investors have recently bought and sold shares of NVAX. Shah Capital Management lifted its position in Novavax by 19.0% in the second quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company’s stock worth $122,322,000 after buying an additional 1,544,263 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Novavax by 110.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 498,532 shares of the biopharmaceutical company’s stock worth $6,296,000 after acquiring an additional 261,464 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Novavax in the 2nd quarter worth about $1,251,000. Edgestream Partners L.P. boosted its stake in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 2,447 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Novavax by 29.9% during the 1st quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,570 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.