Wall Street analysts expect Novavax, Inc. (NASDAQ:NVAX) to post $4.40 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Novavax’s earnings. The highest sales estimate is $4.80 million and the lowest is $4.00 million. Novavax reported sales of $7.74 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 43.2%. The company is expected to issue its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Novavax will report full year sales of $11.16 million for the current financial year, with estimates ranging from $7.30 million to $15.30 million. For the next financial year, analysts anticipate that the firm will post sales of $12.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Novavax.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.61) by ($0.08). The business had revenue of $3.36 million during the quarter, compared to analysts’ expectations of $3.53 million. During the same quarter last year, the business earned ($2.40) earnings per share.
Several research analysts have weighed in on the company. ValuEngine raised Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley set a $35.00 price target on Novavax and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Cantor Fitzgerald reissued a “neutral” rating on shares of Novavax in a report on Thursday, October 17th. HC Wainwright boosted their target price on Novavax from $10.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Oppenheimer decreased their target price on Novavax from $25.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Novavax presently has a consensus rating of “Hold” and a consensus target price of $36.40.
Shares of NASDAQ:NVAX traded down $0.04 during trading on Friday, hitting $4.30. 357,220 shares of the company were exchanged, compared to its average volume of 818,891. The stock has a market cap of $104.05 million, a price-to-earnings ratio of -0.43 and a beta of 2.00. Novavax has a fifty-two week low of $4.01 and a fifty-two week high of $51.60. The firm has a fifty day moving average price of $5.42 and a two-hundred day moving average price of $4.63.
In related news, insider Gregory M. Glenn sold 9,620 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.18, for a total value of $59,451.60. Following the completion of the sale, the insider now directly owns 123 shares in the company, valued at approximately $760.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John A. Herrmann III sold 3,643 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $7.07, for a total value of $25,756.01. The disclosure for this sale can be found here. Insiders have sold a total of 18,841 shares of company stock worth $117,114 over the last three months. 3.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. Rhumbline Advisers boosted its stake in Novavax by 10.3% in the 3rd quarter. Rhumbline Advisers now owns 33,428 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 3,118 shares during the period. GSA Capital Partners LLP bought a new stake in Novavax in the 2nd quarter valued at $197,000. A.R.T. Advisors LLC bought a new stake in Novavax in the 2nd quarter valued at $435,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Novavax in the 2nd quarter valued at $510,000. Institutional investors and hedge funds own 28.19% of the company’s stock.
Novavax Company Profile
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
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