FY2024 Earnings Forecast for Novavax Issued By HC Wainwright

Novavax, Inc. (NASDAQ:NVAX) – Equities researchers at HC Wainwright dropped their FY2024 EPS estimates for shares of Novavax in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst V. Bernardino now forecasts that the biopharmaceutical company will earn ($1.29) per share for the year, down from their prior forecast of ($0.84). 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 ($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 equities research analysts also recently commented on the company. B. Riley reissued a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. Jefferies Financial Group lowered their price target on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.83.

Novavax Stock Up 7.0 %

Novavax stock opened at $7.83 on Monday. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86. The company has a market capitalization of $1.25 billion, a P/E ratio of -3.47 and a beta of 2.10. The stock’s 50 day moving average is $11.26 and its 200 day moving average is $12.51.

Novavax (NASDAQ:NVAX) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07. The business had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same quarter last year, the company posted ($1.26) EPS. Novavax’s revenue for the quarter was down 54.8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Shah Capital Management increased its holdings in Novavax by 19.0% in 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 in the last quarter. State Street Corp boosted its holdings in shares of Novavax by 26.7% during the 3rd quarter. State Street Corp now owns 7,687,951 shares of the biopharmaceutical company’s stock valued at $97,099,000 after acquiring an additional 1,621,772 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Novavax by 9.5% in the third quarter. Geode Capital Management LLC now owns 3,502,489 shares of the biopharmaceutical company’s stock worth $44,245,000 after acquiring an additional 304,159 shares during the period. Bank of Montreal Can raised its holdings in shares of Novavax by 26.7% during the third quarter. Bank of Montreal Can now owns 2,454,325 shares of the biopharmaceutical company’s stock valued at $32,643,000 after purchasing an additional 517,727 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Novavax by 48.9% during the third quarter. Two Sigma Advisers LP now owns 1,999,400 shares of the biopharmaceutical company’s stock valued at $25,252,000 after purchasing an additional 656,900 shares during the last quarter. 53.04% of the stock is owned by institutional investors.

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.