FY2024 EPS Estimates for Novavax Decreased by Zacks Research

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Novavax in a report issued on Tuesday, December 3rd. Zacks Research analyst S. Ganoria now forecasts that the biopharmaceutical company will post earnings per share of ($1.56) for the year, down from their previous forecast 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.

Several other brokerages also recently commented on NVAX. JPMorgan Chase & Co. increased their target price on Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $19.00 target price on shares of Novavax in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group reduced their price target on shares of Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Novavax Price Performance

Shares of NVAX opened at $8.30 on Friday. Novavax has a twelve month low of $3.53 and a twelve month high of $23.86. The company has a market capitalization of $1.33 billion, a P/E ratio of -3.67 and a beta of 2.02. The firm has a 50 day moving average of $10.07 and a 200 day moving average of $12.43.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Novavax by 17.0% in the 1st 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 holdings in Novavax by 11.3% during the first quarter. California State Teachers Retirement System now owns 107,511 shares of the biopharmaceutical company’s stock valued at $514,000 after purchasing an additional 10,949 shares during the period. Tidal Investments LLC purchased a new stake in Novavax in the first quarter worth about $172,000. Baader Bank Aktiengesellschaft bought a new position in shares of Novavax in the second quarter worth about $216,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Novavax by 34.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 533,942 shares of the biopharmaceutical company’s stock valued at $6,760,000 after buying an additional 136,472 shares in the last quarter. 53.04% of the stock is currently 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.