Q3 2024 EPS Estimates for Novavax, Inc. Reduced by Zacks Research (NASDAQ:NVAX)

Novavax, Inc. (NASDAQ:NVAX) – Stock analysts at Zacks Research decreased their Q3 2024 EPS estimates for shares of Novavax in a research report issued to clients and investors 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 announced its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.95). The business had revenue of $291.34 million for the quarter, compared to analysts’ expectations of $310.96 million. During the same period last year, the firm posted ($2.28) earnings per share. Novavax’s revenue for the quarter was down 18.5% on a year-over-year basis.

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

Novavax Stock Performance

NASDAQ NVAX opened at $4.30 on Friday. Novavax has a 52-week low of $3.53 and a 52-week high of $11.36. The company has a market capitalization of $601.79 million, a P/E ratio of -0.78 and a beta of 1.59. The company has a fifty day moving average of $4.68 and a 200-day moving average of $5.37.

Institutional Investors Weigh In On Novavax

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Novavax by 26.0% in the fourth quarter. Vanguard Group Inc. now owns 14,560,061 shares of the biopharmaceutical company’s stock worth $69,888,000 after buying an additional 3,008,585 shares in the last quarter. State Street Corp lifted its stake in shares of Novavax by 5.2% in the second quarter. State Street Corp now owns 11,679,428 shares of the biopharmaceutical company’s stock worth $86,778,000 after buying an additional 576,803 shares in the last quarter. Shah Capital Management lifted its stake in shares of Novavax by 22.9% in the fourth quarter. Shah Capital Management now owns 7,780,756 shares of the biopharmaceutical company’s stock worth $37,348,000 after buying an additional 1,450,000 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Novavax by 46.5% in the second quarter. BlackRock Inc. now owns 6,994,773 shares of the biopharmaceutical company’s stock worth $51,971,000 after buying an additional 2,220,039 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Novavax by 25.5% in the first quarter. Renaissance Technologies LLC now owns 3,540,383 shares of the biopharmaceutical company’s stock worth $24,535,000 after buying an additional 718,700 shares in the last quarter. Institutional investors own 53.04% of the company’s stock.

Novavax Company Profile

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.