Novavax, Inc. (NASDAQ:NVAX) to Post Q3 2024 Earnings of ($1.06) Per Share, Zacks Research Forecasts

Novavax, Inc. (NASDAQ:NVAX - Free Report) - Analysts at Zacks Research cut their Q3 2024 earnings estimates for Novavax in a research report issued to clients and investors on Wednesday, April 10th. Zacks Research analyst S. Ganoria now expects that the biopharmaceutical company will earn ($1.06) per share for the quarter, down from their previous estimate of ($0.66). The consensus estimate for Novavax's current full-year earnings is ($0.88) per share. Zacks Research also issued estimates for Novavax's Q4 2024 earnings at $1.50 EPS, FY2024 earnings at ($1.40) EPS, Q1 2026 earnings at ($0.45) EPS and FY2026 earnings at $0.59 EPS.

Separately, HC Wainwright reduced their target price on Novavax from $35.00 to $19.00 and set a "buy" rating for the company in a report on Friday, March 1st.

Novavax Stock Down 0.5 %

Novavax stock traded down $0.02 during midday trading on Friday, hitting $4.28. 3,998,753 shares of the stock were exchanged, compared to its average volume of 7,952,988. Novavax has a 52-week low of $3.53 and a 52-week high of $11.36. The business's 50-day moving average price is $4.69 and its 200-day moving average price is $5.35. The stock has a market capitalization of $598.99 million, a price-to-earnings ratio of -0.77 and a beta of 1.59.

Novavax (NASDAQ:NVAX - Get Free Report) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.95). The firm had revenue of $291.34 million during the quarter, compared to the consensus estimate of $310.96 million. During the same quarter in the previous year, the company earned ($2.28) EPS. The firm's quarterly revenue was down 18.5% on a year-over-year basis.

Institutional Trading of Novavax

A number of large investors have recently added to or reduced their stakes in NVAX. Money Concepts Capital Corp purchased a new position in shares of Novavax in the fourth quarter valued at $37,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Novavax in the second quarter worth about $53,000. Great West Life Assurance Co. Can boosted its position in shares of Novavax by 76.9% in the second quarter. Great West Life Assurance Co. Can now owns 8,084 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 3,515 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Novavax by 467.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,743 shares of the biopharmaceutical company's stock valued at $66,000 after acquiring an additional 11,319 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Novavax by 102.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,944 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 7,072 shares during the period. Hedge funds and other institutional investors own 53.04% of the company's stock.

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.