What is HC Wainwright’s Forecast for Novavax Q3 Earnings?

Novavax, Inc. (NASDAQ:NVAX) – Equities researchers at HC Wainwright issued their Q3 2024 earnings per share estimates for Novavax in a research report issued to clients and investors on Tuesday, November 12th. HC Wainwright analyst V. Bernardino forecasts that the biopharmaceutical company will earn ($0.64) per share for the quarter. HC Wainwright has a “Buy” rating and a $19.00 price target on the stock. The consensus estimate for Novavax’s current full-year earnings is ($0.90) per share. HC Wainwright also issued estimates for Novavax’s Q4 2024 earnings at ($0.28) EPS, FY2024 earnings at ($0.84) EPS and FY2025 earnings at $0.09 EPS.

A number of other brokerages have also recently commented on NVAX. Jefferies Financial Group dropped their target price on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. Finally, B. Riley reissued a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Novavax currently has an average rating of “Hold” and a consensus price target of $17.83.

Novavax Price Performance

Shares of NASDAQ NVAX opened at $7.77 on Thursday. Novavax has a 1-year low of $3.53 and a 1-year high of $23.86. The business’s 50 day moving average is $11.44 and its two-hundred day moving average is $12.41. The stock has a market capitalization of $1.24 billion, a P/E ratio of -3.44 and a beta of 2.10.

Novavax (NASDAQ:NVAX) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.11. The business had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business’s quarterly revenue was down 54.8% on a year-over-year basis. During the same quarter last year, the firm earned ($1.26) earnings per share.

Institutional Trading of Novavax

A number of large investors have recently made changes to their positions in the stock. Swiss National Bank lifted its holdings in Novavax by 17.1% during the 1st quarter. Swiss National Bank now owns 211,000 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 30,800 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Novavax by 29.9% during the first quarter. ProShare Advisors LLC now owns 37,203 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 8,570 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Novavax by 236.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,613 shares of the biopharmaceutical company’s stock worth $400,000 after buying an additional 58,746 shares during the period. Edgestream Partners L.P. grew its position in shares of Novavax by 23.7% during the 1st quarter. Edgestream Partners L.P. now owns 12,753 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 2,447 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Novavax by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 11,298 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 2,711 shares during the period. 53.04% of the stock is owned by hedge funds and other institutional investors.

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.