Zacks: Analysts Expect Novavax, Inc. (NASDAQ:NVAX) Will Announce Earnings of $5.51 Per Share

Analysts forecast that Novavax, Inc. (NASDAQ:NVAXGet Rating) will announce earnings per share of $5.58 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Novavax’s earnings. The highest EPS estimate is $6.70 and the lowest is $4.62. Novavax posted earnings of ($4.75) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 217.5%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Novavax will report full year earnings of $25.01 per share for the current fiscal year, with EPS estimates ranging from $14.49 to $36.32. For the next fiscal year, analysts anticipate that the company will post earnings of $8.46 per share, with EPS estimates ranging from ($3.84) to $22.87. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Novavax.

Novavax (NASDAQ:NVAXGet Rating) last issued its earnings results on Monday, May 9th. The biopharmaceutical company reported $2.56 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.77). Novavax had a negative net margin of 93.91% and a negative return on equity of 572.54%. The business had revenue of $703.97 million for the quarter, compared to analyst estimates of $845.20 million. During the same quarter last year, the firm posted ($3.05) earnings per share. Novavax’s revenue was up 57.4% on a year-over-year basis.

Several brokerages have recently weighed in on NVAX. Cowen reiterated a “buy” rating and set a $150.00 target price on shares of Novavax in a research report on Friday, June 3rd. HC Wainwright reduced their price target on shares of Novavax from $294.00 to $207.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Cantor Fitzgerald boosted their price target on shares of Novavax from $146.00 to $168.00 in a research report on Wednesday. Bank of America started coverage on shares of Novavax in a research report on Friday, May 20th. They issued an “underperform” rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Novavax in a research report on Tuesday, February 22nd. They issued a “buy” rating and a $198.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $174.25.

Shares of Novavax stock opened at $50.11 on Thursday. The firm’s 50-day simple moving average is $54.40 and its 200-day simple moving average is $96.32. Novavax has a twelve month low of $41.10 and a twelve month high of $277.80. The firm has a market cap of $3.92 billion, a P/E ratio of -2.83, a price-to-earnings-growth ratio of 0.05 and a beta of 1.58.

In related news, Director James F. Young sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $73.58, for a total transaction of $919,750.00. Following the completion of the sale, the director now directly owns 62,590 shares of the company’s stock, valued at $4,605,372.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NVAX. Walleye Capital LLC bought a new stake in Novavax in the first quarter valued at approximately $757,000. Neuberger Berman Group LLC increased its stake in Novavax by 34.9% in the first quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock valued at $204,000 after purchasing an additional 715 shares in the last quarter. International Biotechnology Trust PLC bought a new stake in Novavax in the first quarter valued at approximately $18,549,000. Toroso Investments LLC boosted its holdings in shares of Novavax by 15.3% in the first quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock valued at $243,000 after buying an additional 437 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of Novavax in the first quarter valued at approximately $2,570,000. 43.91% of the stock is owned by institutional investors and hedge funds.

About Novavax (Get Rating)

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

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