Novavax, Inc. (NVAX) Expected to Post Quarterly Sales of $5.90 Million
Equities analysts forecast that Novavax, Inc. (NASDAQ:NVAX) will post $5.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Novavax’s earnings, with estimates ranging from $5.80 million to $6.00 million. Novavax posted sales of $2.51 million during the same quarter last year, which would indicate a positive year over year growth rate of 135.1%. The company is expected to report its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Novavax will report full year sales of $5.90 million for the current year, with estimates ranging from $22.18 million to $29.20 million. For the next fiscal year, analysts anticipate that the business will post sales of $34.70 million per share, with estimates ranging from $24.90 million to $44.50 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Novavax.
Novavax (NASDAQ:NVAX) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $5.68 million for the quarter, compared to analysts’ expectations of $6.17 million. Novavax had a negative net margin of 1,466.36% and a negative return on equity of 787.38%. The company’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.29) earnings per share.
Several analysts have recently weighed in on the stock. Ladenburg Thalmann Financial Services restated a “neutral” rating on shares of Novavax in a research report on Wednesday, March 1st. Zacks Investment Research lowered shares of Novavax from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Chardan Capital reaffirmed a “hold” rating and set a $1.50 target price on shares of Novavax in a report on Tuesday, February 28th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $2.00 target price on shares of Novavax in a report on Wednesday, March 1st. Finally, ValuEngine lowered shares of Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.56.
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Novavax (NASDAQ:NVAX) traded up 0.472% during mid-day trading on Wednesday, hitting $1.065. 1,020,690 shares of the company’s stock were exchanged. The stock’s market cap is $300.96 million. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.21. Novavax has a 12 month low of $0.73 and a 12 month high of $8.49.
In other Novavax news, insider Stanley C. Erck bought 50,000 shares of Novavax stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $0.84 per share, with a total value of $42,000.00. Following the acquisition, the insider now owns 128,279 shares in the company, valued at $107,754.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 105,000 shares of company stock worth $90,800. 3.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Novavax during the first quarter worth about $157,000. HighTower Advisors LLC raised its stake in shares of Novavax by 3.8% in the first quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock worth $184,000 after buying an additional 5,250 shares during the period. American International Group Inc. raised its stake in shares of Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 10,965 shares during the period. KCG Holdings Inc. raised its stake in shares of Novavax by 161.0% in the first quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock worth $229,000 after buying an additional 110,292 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 5,704 shares during the period. 51.15% of the stock is currently owned by institutional investors.
Novavax Company Profile
Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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