Novavax (NASDAQ:NVAX) Issues Earnings Results, Beats Expectations By $2.74 EPS

Novavax (NASDAQ:NVAX) released its quarterly earnings results on Friday. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $2.74, Zacks reports. The firm had revenue of $666.66 million for the quarter, compared to analysts’ expectations of $204.08 million. The business’s quarterly revenue was up 610.3% on a year-over-year basis. During the same period last year, the firm earned ($1.05) EPS.

Novavax Stock Down 10.1 %

Shares of NASDAQ NVAX opened at $5.99 on Friday. The stock’s 50 day moving average price is $6.86 and its two-hundred day moving average price is $8.02. Novavax has a 52-week low of $5.01 and a 52-week high of $23.86. The stock has a market capitalization of $963.46 million, a P/E ratio of -2.65, a PEG ratio of 2.85 and a beta of 3.21.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVAX. BTIG Research began coverage on Novavax in a research report on Friday, February 28th. They set a “buy” rating and a $19.00 target price on the stock. TD Cowen upgraded Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. reduced their target price on Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.71.

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.