FY2024 EPS Estimates for Novavax Decreased by Zacks Research

Novavax, Inc. (NASDAQ:NVAX - Free Report) - Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Novavax in a research report issued to clients and investors on Tuesday, December 3rd. Zacks Research analyst S. Ganoria now anticipates that the biopharmaceutical company will earn ($1.56) per share for the year, down from their prior forecast of ($1.26). The consensus estimate for Novavax's current full-year earnings is ($1.44) per share. Zacks Research also issued estimates for Novavax's Q4 2024 earnings at ($0.74) EPS, Q1 2025 earnings at ($0.63) EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at ($0.37) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.77) EPS, Q1 2026 earnings at ($0.19) EPS, Q2 2026 earnings at $0.04 EPS, Q3 2026 earnings at $0.06 EPS and FY2026 earnings at $0.35 EPS.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price target on Novavax from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Monday, August 12th. Jefferies Financial Group lowered their target price on shares of Novavax from $31.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, October 16th. B. Riley reiterated a "buy" rating and issued a $26.00 price target (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $19.00 price objective on shares of Novavax in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $17.83.

Novavax Trading Up 7.7 %

Shares of NASDAQ NVAX traded up $0.64 during mid-day trading on Friday, hitting $8.94. The company had a trading volume of 7,104,654 shares, compared to its average volume of 5,298,804. Novavax has a one year low of $3.53 and a one year high of $23.86. The company has a market capitalization of $1.43 billion, a PE ratio of -3.96 and a beta of 2.02. The firm has a 50-day simple moving average of $9.99 and a two-hundred day simple moving average of $12.39.

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

Hedge Funds Weigh In On Novavax

Institutional investors and hedge funds have recently modified their holdings of the stock. Shah Capital Management boosted its holdings in shares of Novavax by 19.0% during the 2nd quarter. Shah Capital Management now owns 9,662,090 shares of the biopharmaceutical company's stock worth $122,322,000 after buying an additional 1,544,263 shares during the period. State Street Corp lifted its holdings in Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company's stock worth $97,099,000 after purchasing an additional 1,621,772 shares during the last quarter. Geode Capital Management LLC boosted its stake in Novavax by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company's stock valued at $44,245,000 after purchasing an additional 304,159 shares during the period. Bank of Montreal Can grew its holdings in Novavax by 26.7% in the 3rd quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company's stock valued at $32,643,000 after buying an additional 517,727 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in Novavax by 48.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company's stock worth $25,252,000 after buying an additional 656,900 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.