Novavax, Inc. Expected to Post Q3 2024 Earnings of ($1.06) Per Share (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Zacks Research cut their Q3 2024 earnings estimates for Novavax in a report released on Wednesday, April 10th. Zacks Research analyst S. Ganoria now expects that the biopharmaceutical company will post earnings per share of ($1.06) for the quarter, down from their previous forecast of ($0.66). The consensus estimate for Novavax’s current full-year earnings is ($0.88) per share. Zacks Research also issued estimates for Novavax’s Q4 2024 earnings at $1.50 EPS, FY2024 earnings at ($1.40) EPS, Q1 2026 earnings at ($0.45) EPS and FY2026 earnings at $0.59 EPS.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The company had revenue of $291.34 million for the quarter, compared to the consensus estimate of $310.96 million. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.28) earnings per share.

Separately, HC Wainwright lowered their target price on shares of Novavax from $35.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, March 1st.

Novavax Stock Down 0.5 %

Shares of NVAX opened at $4.28 on Friday. The company has a market cap of $598.99 million, a price-to-earnings ratio of -0.77 and a beta of 1.59. Novavax has a twelve month low of $3.53 and a twelve month high of $11.36. The company has a 50 day moving average of $4.69 and a two-hundred day moving average of $5.35.

Institutional Investors Weigh In On Novavax

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in Novavax by 82.7% in the first quarter. State Street Corp now owns 11,102,625 shares of the biopharmaceutical company’s stock valued at $76,941,000 after buying an additional 5,026,107 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Novavax by 26.0% during the fourth quarter. Vanguard Group Inc. now owns 14,560,061 shares of the biopharmaceutical company’s stock worth $69,888,000 after purchasing an additional 3,008,585 shares in the last quarter. BlackRock Inc. increased its stake in shares of Novavax by 46.5% during the second quarter. BlackRock Inc. now owns 6,994,773 shares of the biopharmaceutical company’s stock worth $51,971,000 after purchasing an additional 2,220,039 shares in the last quarter. Coatue Management LLC purchased a new stake in shares of Novavax during the fourth quarter worth about $7,294,000. Finally, Shah Capital Management increased its stake in shares of Novavax by 22.9% during the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after purchasing an additional 1,450,000 shares in the last quarter. 53.04% of the stock is currently owned by institutional investors and hedge funds.

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.