Brokerages Expect Novavax, Inc. (NVAX) Will Announce Quarterly Sales of $8.09 Million

Wall Street analysts forecast that Novavax, Inc. (NASDAQ:NVAX) will post sales of $8.09 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Novavax’s earnings, with the lowest sales estimate coming in at $5.00 million and the highest estimate coming in at $13.34 million. Novavax posted sales of $10.41 million during the same quarter last year, which suggests a negative year over year growth rate of 22.3%. The firm is scheduled to report its next earnings report on Wednesday, March 13th.

On average, analysts expect that Novavax will report full-year sales of $36.14 million for the current year, with estimates ranging from $33.16 million to $41.50 million. For the next financial year, analysts anticipate that the firm will post sales of $10.00 million, with estimates ranging from $8.00 million to $12.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Novavax.

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

Several research firms have recently weighed in on NVAX. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Novavax in a research report on Friday, November 23rd. BidaskClub cut Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. LADENBURG THALM/SH SH began coverage on Novavax in a research report on Tuesday, December 18th. They set a “buy” rating and a $3.00 price objective for the company. Oppenheimer began coverage on Novavax in a research report on Monday, December 10th. They set an “outperform” rating and a $4.00 price objective for the company. Finally, Piper Jaffray Companies upped their price objective on Novavax to $4.50 and gave the stock a “positive” rating in a research report on Thursday, January 3rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $4.00.

Hedge funds have recently bought and sold shares of the company. B. Riley Wealth Management Inc. acquired a new position in shares of Novavax during the third quarter worth about $47,000. Pacer Advisors Inc. acquired a new position in Novavax during the third quarter valued at approximately $113,000. Virtu Financial LLC boosted its position in Novavax by 72.1% during the fourth quarter. Virtu Financial LLC now owns 76,918 shares of the biopharmaceutical company’s stock valued at $142,000 after purchasing an additional 32,228 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in Novavax by 40.3% during the third quarter. Xact Kapitalforvaltning AB now owns 100,700 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 28,900 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Novavax by 388.4% during the second quarter. SG Americas Securities LLC now owns 102,003 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 81,117 shares during the last quarter. 40.87% of the stock is owned by institutional investors.

NASDAQ:NVAX traded down $0.03 on Thursday, reaching $2.02. The company’s stock had a trading volume of 6,916,740 shares, compared to its average volume of 10,390,972. Novavax has a 1-year low of $1.15 and a 1-year high of $2.75. The stock has a market cap of $784.84 million, a price-to-earnings ratio of -3.21 and a beta of 2.19.

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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