Zacks: Brokerages Anticipate Novavax, Inc. (NASDAQ:NVAX) Will Announce Quarterly Sales of $1.04 Billion

Equities analysts expect Novavax, Inc. (NASDAQ:NVAXGet Rating) to announce sales of $1.04 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Novavax’s earnings. The highest sales estimate is $1.13 billion and the lowest is $953.48 million. Novavax reported sales of $298.02 million during the same quarter last year, which indicates a positive year over year growth rate of 249%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Novavax will report full year sales of $4.22 billion for the current fiscal year, with estimates ranging from $3.69 billion to $4.58 billion. For the next financial year, analysts forecast that the business will post sales of $3.27 billion, with estimates ranging from $2.31 billion to $5.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Novavax.

Novavax (NASDAQ:NVAXGet Rating) last posted its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.77). The firm had revenue of $703.97 million for the quarter, compared to analyst estimates of $845.20 million. Novavax had a negative net margin of 93.91% and a negative return on equity of 572.54%. The business’s revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company posted ($3.05) earnings per share.

Several equities research analysts recently issued reports on the company. Cowen assumed coverage on Novavax in a research report on Friday, January 21st. They set an “outperform” rating and a $150.00 price target on the stock. Bank of America assumed coverage on Novavax in a research report on Friday. They issued an “underperform” rating and a $35.00 target price on the stock. HC Wainwright dropped their target price on Novavax from $294.00 to $207.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Cantor Fitzgerald dropped their target price on Novavax from $282.00 to $174.00 and set an “overweight” rating on the stock in a research report on Monday, February 14th. Finally, B. Riley dropped their target price on Novavax from $203.00 to $181.00 in a research report on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $175.00.

In related news, Director James F. Young sold 12,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $73.58, for a total transaction of $919,750.00. Following the completion of the transaction, the director now owns 62,590 shares of the company’s stock, valued at $4,605,372.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in NVAX. Spire Wealth Management boosted its stake in Novavax by 186.7% during the fourth quarter. Spire Wealth Management now owns 172 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 112 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in shares of Novavax in the 4th quarter valued at $29,000. DB Wealth Management Group LLC acquired a new position in shares of Novavax in the 4th quarter valued at $29,000. San Luis Wealth Advisors LLC acquired a new position in shares of Novavax in the 1st quarter valued at $29,000. Finally, TCI Wealth Advisors Inc. boosted its position in shares of Novavax by 115.7% in the 4th quarter. TCI Wealth Advisors Inc. now owns 289 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 155 shares during the period. 43.91% of the stock is owned by institutional investors and hedge funds.

NVAX stock opened at $53.42 on Friday. The firm has a market cap of $4.17 billion, a P/E ratio of -3.02 and a beta of 1.59. Novavax has a 12-month low of $41.33 and a 12-month high of $277.80. The stock’s 50 day simple moving average is $61.68 and its 200 day simple moving average is $107.66.

Novavax Company Profile (Get Rating)

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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