Zacks Research Brokers Reduce Earnings Estimates for Novavax

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Zacks Research reduced their FY2028 earnings per share estimates for shares of Novavax in a report issued on Wednesday, April 22nd. Zacks Research analyst Team now forecasts that the biopharmaceutical company will post earnings of $0.78 per share for the year, down from their previous estimate of $0.92. The consensus estimate for Novavax’s current full-year earnings is ($0.06) per share.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The firm had revenue of $136.40 million during the quarter, compared to the consensus estimate of $90.26 million. During the same quarter in the prior year, the firm posted ($0.51) EPS. The business’s revenue was up 66.6% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. B. Riley Financial reaffirmed a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. HC Wainwright upped their price target on Novavax from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen raised Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Novavax has a consensus rating of “Hold” and an average target price of $11.88.

Novavax Stock Up 0.9%

NASDAQ:NVAX opened at $8.22 on Friday. Novavax has a twelve month low of $5.80 and a twelve month high of $11.97. The business has a 50 day moving average price of $9.15 and a two-hundred day moving average price of $8.22. The company has a market cap of $1.34 billion, a P/E ratio of 3.41 and a beta of 2.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Shah Capital Management increased its stake in shares of Novavax by 2.0% during the 1st quarter. Shah Capital Management now owns 14,845,097 shares of the biopharmaceutical company’s stock worth $120,839,000 after purchasing an additional 286,317 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Novavax by 31.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 21,342 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 5,051 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Novavax during the first quarter worth about $2,969,000. Hsbc Holdings PLC bought a new position in Novavax during the fourth quarter worth about $394,000. Finally, Invesco Ltd. increased its position in Novavax by 12.9% during the fourth quarter. Invesco Ltd. now owns 259,380 shares of the biopharmaceutical company’s stock worth $1,743,000 after buying an additional 29,704 shares during the last quarter. Institutional investors own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.