HC Wainwright Brokers Reduce Earnings Estimates for Novavax

Novavax, Inc. (NASDAQ:NVAX - Free Report) - Analysts at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for Novavax in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst V. Bernardino now expects that the biopharmaceutical company will earn ($1.29) per share for the year, down from their prior forecast of ($0.84). HC Wainwright has a "Buy" rating and a $19.00 price objective on the stock. The consensus estimate for Novavax's current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Novavax's Q4 2024 earnings at ($0.59) EPS and FY2025 earnings at $1.06 EPS.

Several other research firms have also recently weighed in on NVAX. Jefferies Financial Group reduced their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. B. Riley restated a "buy" rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $17.83.

Novavax Price Performance

Shares of NASDAQ:NVAX opened at $7.32 on Monday. The business has a 50-day moving average of $11.26 and a two-hundred day moving average of $12.45. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86. The stock has a market capitalization of $1.17 billion, a P/E ratio of -3.24 and a beta of 2.10.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.07. The business had revenue of $84.51 million for the quarter, compared to analyst estimates of $65.80 million. During the same period in the previous year, the firm posted ($1.26) earnings per share. The firm's quarterly revenue was down 54.8% on a year-over-year basis.

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise lifted its holdings in shares of Novavax by 500.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 3,000 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 2,500 shares during the period. Amalgamated Bank lifted its stake in shares of Novavax by 26.9% in the 2nd quarter. Amalgamated Bank now owns 4,887 shares of the biopharmaceutical company's stock valued at $62,000 after purchasing an additional 1,036 shares during the period. Swedbank AB acquired a new stake in shares of Novavax during the 1st quarter worth approximately $26,000. Signaturefd LLC grew its holdings in Novavax by 214.5% in the second quarter. Signaturefd LLC now owns 5,680 shares of the biopharmaceutical company's stock worth $72,000 after purchasing an additional 3,874 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Novavax by 38.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,790 shares of the biopharmaceutical company's stock valued at $77,000 after buying an additional 1,598 shares during the period. 53.04% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

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.