HC Wainwright Predicts Novavax's Q3 Earnings (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX - Free Report) - Analysts at HC Wainwright issued their Q3 2024 earnings per share (EPS) estimates for shares of Novavax in a report issued on Tuesday, November 12th. HC Wainwright analyst V. Bernardino anticipates that the biopharmaceutical company will earn ($0.64) per share for the quarter. HC Wainwright currently has a "Buy" rating and a $19.00 target price on the stock. The consensus estimate for Novavax's current full-year earnings is ($0.90) per share. HC Wainwright also issued estimates for Novavax's Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at $0.09 EPS.

Other research analysts have also recently issued reports about the stock. B. Riley reiterated a "buy" rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on Novavax from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered their price objective on Novavax from $31.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Novavax presently has a consensus rating of "Hold" and an average target price of $17.83.

Novavax Price Performance

Shares of NASDAQ:NVAX traded down $0.03 during trading on Thursday, reaching $7.73. 4,037,095 shares of the stock were exchanged, compared to its average volume of 9,775,498. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.44 and a beta of 2.10. The stock has a fifty day moving average of $11.44 and a two-hundred day moving average of $12.41. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.11. The business had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business's revenue was down 54.8% on a year-over-year basis. During the same period last year, the business posted ($1.26) earnings per share.

Hedge Funds Weigh In On Novavax

A number of hedge funds have recently bought and sold shares of NVAX. Swiss National Bank boosted its holdings in Novavax by 17.1% during the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company's stock worth $1,009,000 after acquiring an additional 30,800 shares during the last quarter. ProShare Advisors LLC raised its position in Novavax by 29.9% in the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company's stock worth $178,000 after acquiring an additional 8,570 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Novavax by 236.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,613 shares of the biopharmaceutical company's stock valued at $400,000 after acquiring an additional 58,746 shares during the last quarter. Edgestream Partners L.P. grew its position in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 2,447 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in shares of Novavax by 31.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 2,711 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.