Zacks Research Issues Negative Forecast for Novavax Earnings

Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Zacks Research lowered their FY2028 earnings per share (EPS) estimates for shares of Novavax in a research note issued to investors on Wednesday, April 22nd. Zacks Research analyst Team now expects that the biopharmaceutical company will earn $0.78 per share for the year, down from their previous forecast of $0.92. The consensus estimate for Novavax’s current full-year earnings is ($0.06) per share.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.77. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The business had revenue of $136.40 million during the quarter, compared to analyst estimates of $90.26 million. During the same period last year, the company earned ($0.51) EPS. The company’s revenue for the quarter was up 66.6% on a year-over-year basis.

NVAX has been the topic of several other research reports. B. Riley Financial reissued a “buy” rating on shares of Novavax in a research note on Thursday, April 9th. HC Wainwright increased their price objective on shares of Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings raised shares of Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating on shares of Novavax in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.88.

Novavax Stock Down 3.6%

NVAX stock opened at $8.15 on Friday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 3.38 and a beta of 2.65. Novavax has a twelve month low of $5.80 and a twelve month high of $11.97. The business’s fifty day simple moving average is $9.16 and its two-hundred day simple moving average is $8.23.

Hedge Funds Weigh In On Novavax

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in Novavax by 95.2% during the first quarter. AQR Capital Management LLC now owns 44,427 shares of the biopharmaceutical company’s stock valued at $285,000 after purchasing an additional 21,663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Novavax by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,562 shares of the biopharmaceutical company’s stock worth $678,000 after acquiring an additional 2,750 shares during the period. Caxton Associates LLP purchased a new position in Novavax during the first quarter valued at approximately $158,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Novavax by 16.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 312,789 shares of the biopharmaceutical company’s stock valued at $2,005,000 after purchasing an additional 44,105 shares during the period. Finally, Strs Ohio acquired a new position in shares of Novavax in the 1st quarter valued at $167,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

About Novavax

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.