Novavax, Inc. Expected to Post Q3 2024 Earnings of ($1.06) Per Share (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – Stock analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Novavax in a research note issued on Wednesday, April 10th. Zacks Research analyst S. Ganoria now forecasts that the biopharmaceutical company will earn ($1.06) per share for the quarter, down from their previous estimate of ($0.66). The consensus estimate for Novavax’s current full-year earnings is ($0.88) per share. Zacks Research also issued estimates for Novavax’s Q4 2024 earnings at $1.50 EPS, FY2024 earnings at ($1.40) EPS, Q1 2026 earnings at ($0.45) EPS and FY2026 earnings at $0.59 EPS.

Separately, HC Wainwright decreased their target price on shares of Novavax from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

Novavax Trading Down 0.5 %

Shares of NVAX opened at $4.28 on Friday. The firm has a market cap of $598.99 million, a PE ratio of -0.77 and a beta of 1.59. The firm has a fifty day simple moving average of $4.69 and a two-hundred day simple moving average of $5.35. Novavax has a 1-year low of $3.53 and a 1-year high of $11.36.

Novavax (NASDAQ:NVAX) last released its quarterly earnings data 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 analyst estimates of $310.96 million. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($2.28) earnings per share.

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently modified their holdings of NVAX. State Street Corp increased its stake in shares of Novavax by 82.7% in the 1st quarter. State Street Corp now owns 11,102,625 shares of the biopharmaceutical company’s stock worth $76,941,000 after purchasing an additional 5,026,107 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Novavax by 26.0% in the 4th quarter. Vanguard Group Inc. now owns 14,560,061 shares of the biopharmaceutical company’s stock worth $69,888,000 after purchasing an additional 3,008,585 shares in the last quarter. BlackRock Inc. increased its stake in shares of Novavax by 46.5% in the 2nd quarter. BlackRock Inc. now owns 6,994,773 shares of the biopharmaceutical company’s stock worth $51,971,000 after purchasing an additional 2,220,039 shares in the last quarter. Coatue Management LLC purchased a new stake in Novavax in the 4th quarter worth $7,294,000. Finally, Shah Capital Management increased its stake in Novavax by 22.9% in the 4th quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after buying an additional 1,450,000 shares in the last quarter. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

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.