Novavax, Inc. (NASDAQ:NVAX) Forecasted to Post Q1 2024 Earnings of ($0.93) Per Share

Novavax, Inc. (NASDAQ:NVAXFree Report) – Research analysts at Zacks Research decreased their Q1 2024 earnings per share (EPS) estimates for Novavax in a research report issued on Tuesday, March 19th. Zacks Research analyst S. Ganoria now forecasts that the biopharmaceutical company will post earnings per share of ($0.93) for the quarter, down from their previous forecast of ($0.14). The consensus estimate for Novavax’s current full-year earnings is ($0.83) per share. Zacks Research also issued estimates for Novavax’s Q2 2024 earnings at ($0.92) EPS, Q3 2024 earnings at ($0.66) EPS, FY2024 earnings at ($1.36) EPS, Q1 2025 earnings at ($0.69) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.30) EPS and FY2025 earnings at ($0.16) EPS.

NVAX has been the subject of several other reports. StockNews.com upgraded shares of Novavax from a “sell” rating to a “hold” rating in a report on Friday, December 8th. HC Wainwright lowered their price objective on shares of Novavax from $35.00 to $19.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Check Out Our Latest Analysis on NVAX

Novavax Price Performance

NASDAQ NVAX opened at $4.70 on Thursday. The stock has a market capitalization of $657.77 million, a PE ratio of -0.85 and a beta of 1.59. Novavax has a 1 year low of $3.53 and a 1 year high of $11.36. The business’s 50-day moving average is $4.57 and its 200 day moving average is $5.70.

Novavax (NASDAQ:NVAXGet Free Report) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The company had revenue of $291.34 million during the quarter, compared to the consensus estimate of $310.96 million. Novavax’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.28) earnings per share.

Hedge Funds Weigh In On Novavax

Large investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY purchased a new position in shares of Novavax during the second quarter valued at approximately $35,000. Money Concepts Capital Corp purchased a new position in shares of Novavax during the fourth quarter valued at approximately $37,000. Ameritas Investment Partners Inc. purchased a new position in shares of Novavax during the second quarter valued at approximately $53,000. Great West Life Assurance Co. Can raised its holdings in Novavax by 76.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,084 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 3,515 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Novavax by 73.4% in the 2nd quarter. US Bancorp DE now owns 8,566 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 3,626 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

About Novavax

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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.

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Earnings History and Estimates for Novavax (NASDAQ:NVAX)

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