Brokerages Expect Novavax, Inc. (NVAX) Will Announce Earnings of -$0.12 Per Share

Equities analysts expect that Novavax, Inc. (NASDAQ:NVAX) will announce earnings per share (EPS) of ($0.12) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Novavax’s earnings, with estimates ranging from ($0.13) to ($0.11). Novavax posted earnings of ($0.16) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 25%. The firm is expected to report its next earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that Novavax will report full year earnings of ($0.52) per share for the current fiscal year, with EPS estimates ranging from ($0.63) to ($0.49). For the next year, analysts anticipate that the firm will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.51) to ($0.39). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Novavax.

Novavax (NASDAQ:NVAX) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.12) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The company had revenue of $7.70 million for the quarter, compared to analysts’ expectations of $9.63 million. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share.

Several analysts have commented on the company. Zacks Investment Research raised Novavax from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research note on Tuesday, August 14th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Novavax in a research note on Friday, November 23rd. Piper Jaffray Companies raised Novavax from a “neutral” rating to an “overweight” rating and set a $1.93 price objective for the company in a research note on Sunday. BidaskClub downgraded Novavax from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, JPMorgan Chase & Co. raised Novavax from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $2.00 to $2.25 in a research note on Friday, September 21st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Novavax has a consensus rating of “Buy” and a consensus target price of $3.36.

NVAX traded up $0.08 on Friday, hitting $2.15. 138,976 shares of the company traded hands, compared to its average volume of 4,903,933. The company has a market cap of $792.50 million, a PE ratio of -3.38 and a beta of 2.48. Novavax has a 12-month low of $1.05 and a 12-month high of $2.75.

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Novavax during the 3rd quarter worth approximately $113,000. Regentatlantic Capital LLC purchased a new position in shares of Novavax during the 2nd quarter worth approximately $107,000. Xact Kapitalforvaltning AB raised its stake in shares of Novavax by 40.3% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 100,700 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 28,900 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Novavax by 388.4% during the 2nd quarter. SG Americas Securities LLC now owns 102,003 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 81,117 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Novavax during the 3rd quarter worth approximately $256,000. 40.87% of the stock is owned by institutional investors and hedge funds.

About Novavax

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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