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

Novavax (NASDAQ:NVAX) released its quarterly earnings data on Friday. The biopharmaceutical company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $2.74, Zacks reports. The firm had revenue of $666.66 million during the quarter, compared to the consensus estimate of $204.08 million. Novavax’s revenue was up 610.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.05) earnings per share.

Novavax Trading Down 10.1 %

NVAX opened at $5.99 on Friday. 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. The stock has a 50-day moving average price of $6.86 and a 200-day moving average price of $8.02. Novavax has a 12-month low of $5.01 and a 12-month high of $23.86.

Analyst Upgrades and Downgrades

NVAX has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Friday. BTIG Research initiated coverage on Novavax in a research note on Friday, February 28th. They set a “buy” rating and a $19.00 price objective for the company. Finally, TD Cowen upgraded Novavax to a “hold” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.