B. Riley Has Pessimistic View of Novavax FY2024 Earnings

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Novavax in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will earn ($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 target price on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.21) 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.

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, beating the consensus estimate of ($0.83) by $0.07. The firm had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. The business’s revenue was down 54.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.26) earnings per share.

NVAX has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. 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 report on Wednesday, October 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a report on Tuesday, November 12th. One 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.83.

Novavax Price Performance

Shares of NASDAQ:NVAX opened at $8.06 on Wednesday. The company has a market capitalization of $1.29 billion, a PE ratio of -3.57 and a beta of 2.10. The business has a fifty day moving average price of $11.07 and a 200-day moving average price of $12.55. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86.

Institutional Trading of Novavax

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its position in Novavax by 500.0% during the second quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,500 shares in the last quarter. Amalgamated Bank lifted its position in Novavax by 26.9% during the second quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,036 shares during the period. Swedbank AB acquired a new stake in Novavax during the first quarter worth about $26,000. Signaturefd LLC grew its stake in shares of 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 during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $77,000 after buying an additional 1,598 shares in the last quarter. Hedge funds and other 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.