Novavax (NASDAQ:NVAX) Issues Earnings Results

Novavax (NASDAQ:NVAX - Get Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.24, RTT News reports. The company had revenue of $88.31 million during the quarter, compared to analysts' expectations of $85.48 million. During the same period in the prior year, the business earned ($1.44) earnings per share.

Novavax Trading Down 5.5 %

Shares of NASDAQ:NVAX traded down $0.46 on Monday, reaching $7.87. 6,065,978 shares of the company traded hands, compared to its average volume of 4,720,579. The stock has a market capitalization of $1.26 billion, a P/E ratio of -3.48, a price-to-earnings-growth ratio of 2.85 and a beta of 2.14. The business's 50-day simple moving average is $8.51 and its 200 day simple moving average is $9.95. Novavax has a 52 week low of $3.81 and a 52 week high of $23.86.

Insider Activity

In related news, Director Rachel K. King sold 4,150 shares of Novavax 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 transaction, the director now directly owns 14,770 shares of the company's stock, valued at $133,225.40. The trade was a 21.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Young sold 5,400 shares of the company'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 of the company's stock, valued at $414,080. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,150 shares of company stock valued at $119,641. Insiders own 1.00% of the company's stock.

Remove Ads

Analysts Set New Price Targets

NVAX has been the topic of several research reports. TD Cowen upgraded shares of Novavax to a "hold" rating in a research report on Thursday. BTIG Research began coverage on Novavax in a research report on Friday. They set a "buy" rating and a $19.00 price target on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $19.00 price objective on shares of Novavax in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.00.

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.