B. Riley Predicts Novavax's FY2024 Earnings (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX - Free Report) - 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 Thursday, February 20th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings per share of ($1.83) for the year, down from their previous estimate of ($1.41). The consensus estimate for Novavax's current full-year earnings is ($1.46) per share. B. Riley also issued estimates for Novavax's Q4 2024 earnings at ($1.12) EPS, Q1 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.66) EPS and FY2025 earnings at ($0.84) EPS.

Novavax (NASDAQ:NVAX - Get Free Report) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.24. The company had revenue of $88.31 million for the quarter, compared to analysts' expectations of $85.48 million. During the same period in the prior year, the firm posted ($1.44) EPS.

Several other analysts also recently weighed in on NVAX. HC Wainwright reiterated a "buy" rating and set a $19.00 price target on shares of Novavax in a research note on Tuesday, December 10th. BTIG Research initiated coverage on Novavax in a research report on Friday. They issued a "buy" rating and a $19.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Novavax currently has an average rating of "Hold" and an average price target of $18.00.

Remove Ads

Novavax Stock Up 18.0 %

Shares of NVAX traded up $1.27 during trading hours on Monday, reaching $8.33. 10,470,733 shares of the company traded hands, compared to its average volume of 4,684,418. The business has a fifty day moving average price of $8.52 and a 200-day moving average price of $10.00. Novavax has a 12-month low of $3.81 and a 12-month high of $23.86. The stock has a market capitalization of $1.33 billion, a P/E ratio of -3.69, a P/E/G ratio of 2.85 and a beta of 2.14.

Insider Transactions at Novavax

In related news, Director Rachel K. King sold 4,150 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $9.02, for a total value of $37,433.00. Following the completion of the transaction, the director now directly owns 14,770 shares in the company, valued at $133,225.40. The trade was a 21.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James F. Young sold 5,400 shares of the firm's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $8.00, for a total transaction of $43,200.00. Following the sale, the director now owns 51,760 shares in the company, valued at approximately $414,080. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,150 shares of company stock worth $119,641 over the last quarter. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Novavax

A number of large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in Novavax in the fourth quarter valued at approximately $27,000. Spire Wealth Management acquired a new stake in Novavax in the 4th quarter valued at $29,000. New Age Alpha Advisors LLC acquired a new stake in Novavax in the 4th quarter valued at $35,000. KBC Group NV raised its position in Novavax by 97.0% during the fourth quarter. KBC Group NV now owns 7,954 shares of the biopharmaceutical company's stock worth $64,000 after acquiring an additional 3,917 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Novavax by 38.1% during 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 purchasing an additional 1,598 shares in the last quarter. Institutional investors and hedge funds own 53.04% of the company's stock.

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.