Zacks Research Brokers Reduce Earnings Estimates for Novavax

Novavax, Inc. (NASDAQ:NVAX) – Zacks Research reduced their FY2024 earnings per share estimates for Novavax in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst S. Ganoria now anticipates that the biopharmaceutical company will post earnings per share of ($1.56) for the year, down from their prior estimate of ($1.26). The consensus estimate for Novavax’s current full-year earnings is ($1.40) 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.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. boosted 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. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday, November 12th. Jefferies Financial Group cut their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, B. Riley restated a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Novavax has an average rating of “Hold” and an average target price of $17.83.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $8.30 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -3.67 and a beta of 2.02. The firm’s fifty day moving average is $10.07 and its 200 day moving average is $12.43. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVAX. Price T Rowe Associates Inc. MD raised its holdings in Novavax by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,065 shares of the biopharmaceutical company’s stock worth $269,000 after purchasing an additional 8,128 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Novavax by 11.3% in the 1st quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 10,949 shares during the period. Tidal Investments LLC bought a new position in shares of Novavax in the 1st quarter worth about $172,000. Baader Bank Aktiengesellschaft bought a new stake in Novavax during the second quarter worth about $216,000. Finally, Bank of New York Mellon Corp grew its holdings in Novavax by 34.3% in the second quarter. Bank of New York Mellon Corp now owns 533,942 shares of the biopharmaceutical company’s stock worth $6,760,000 after purchasing an additional 136,472 shares during the period. Hedge funds and other institutional investors own 53.04% of the company’s stock.

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.