Zacks: Brokerages Anticipate Novavax, Inc. (NASDAQ:NVAX) Will Announce Quarterly Sales of $5.90 Million
Brokerages predict that Novavax, Inc. (NASDAQ:NVAX) will post $5.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Novavax’s earnings, with the lowest sales estimate coming in at $5.80 million and the highest estimate coming in at $6.00 million. Novavax posted sales of $2.51 million in the same quarter last year, which suggests a positive year-over-year growth rate of 135.1%. The firm is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Novavax will report full year sales of $5.90 million for the current financial year, with estimates ranging from $22.18 million to $29.20 million. For the next year, analysts anticipate that the company will report sales of $34.70 million per share, with estimates ranging from $24.90 million to $44.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Novavax.
Novavax (NASDAQ:NVAX) last released its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.02. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,466.36%. The firm had revenue of $5.68 million for the quarter, compared to analysts’ expectations of $6.17 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The business’s revenue for the quarter was up 34.6% on a year-over-year basis.
A number of equities analysts have weighed in on NVAX shares. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research note on Saturday, June 10th. Cantor Fitzgerald set a $2.00 target price on Novavax and gave the stock a “hold” rating in a research note on Monday, May 8th. Finally, ValuEngine lowered Novavax from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $5.56.
In related news, insider Stanley C. Erck purchased 50,000 shares of Novavax stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $0.84 per share, for a total transaction of $42,000.00. Following the transaction, the insider now directly owns 128,279 shares in the company, valued at $107,754.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have purchased 105,000 shares of company stock worth $90,800. 4.00% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Novavax during the first quarter valued at about $157,000. HighTower Advisors LLC raised its position in Novavax by 3.8% in the first quarter. HighTower Advisors LLC now owns 142,000 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 5,250 shares during the last quarter. American International Group Inc. raised its position in Novavax by 7.1% in the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock valued at $213,000 after buying an additional 10,965 shares during the last quarter. KCG Holdings Inc. raised its position in Novavax by 161.0% in the first quarter. KCG Holdings Inc. now owns 178,797 shares of the biopharmaceutical company’s stock valued at $229,000 after buying an additional 110,292 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Novavax by 2.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 203,996 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 5,704 shares during the last quarter. Institutional investors and hedge funds own 49.98% of the company’s stock.
Novavax (NASDAQ:NVAX) opened at 1.18 on Friday. The firm has a 50-day moving average price of $1.06 and a 200-day moving average price of $1.19. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49. The company’s market cap is $333.46 million.
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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