Novavax, Inc. (NASDAQ:NVAX) Announces Quarterly Earnings Results, Hits Expectations
Novavax, Inc. (NASDAQ:NVAX) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16), Briefing.com reports. Novavax had a negative return on equity of 787.38% and a negative net margin of 1,466.36%. The business had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.15 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. Novavax’s revenue was up 168.0% on a year-over-year basis.
Novavax (NASDAQ NVAX) traded down 1.1616% during mid-day trading on Thursday, reaching $0.9785. The company’s stock had a trading volume of 4,242,607 shares. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49. The company’s market cap is $283.68 million. The firm has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.15.
NVAX has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 target price on shares of Novavax in a report on Friday, July 21st. BidaskClub lowered Novavax from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. ValuEngine lowered Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Chardan Capital reiterated a “neutral” rating and set a $1.50 target price on shares of Novavax in a report on Thursday, July 27th. Finally, 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 report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.61.
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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