Zacks: Brokerages Anticipate Novavax, Inc. (NASDAQ:NVAX) Will Post Quarterly Sales of $547.57 Million

Equities research analysts forecast that Novavax, Inc. (NASDAQ:NVAX) will report $547.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Novavax’s earnings. The highest sales estimate is $1.19 billion and the lowest is $78.57 million. Novavax posted sales of $279.66 million during the same quarter last year, which suggests a positive year-over-year growth rate of 95.8%. The firm is scheduled to announce its next earnings report on Monday, March 7th.

On average, analysts expect that Novavax will report full year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.00 billion to $2.12 billion. For the next financial year, analysts forecast that the company will report sales of $5.19 billion, with estimates ranging from $3.05 billion to $7.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Novavax.

Novavax (NASDAQ:NVAX) last released its earnings results on Thursday, November 4th. The biopharmaceutical company reported ($4.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($4.04) by ($0.27). Novavax had a negative return on equity of 149.66% and a negative net margin of 89.31%. The business had revenue of $178.80 million during the quarter, compared to analysts’ expectations of $347.34 million. During the same period in the prior year, the company earned ($3.21) earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year.

Several brokerages recently commented on NVAX. Chardan Capital reissued a “neutral” rating on shares of Novavax in a research report on Wednesday, September 1st. Zacks Investment Research raised shares of Novavax from a “sell” rating to a “hold” rating and set a $246.00 price objective on the stock in a research report on Thursday, August 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Novavax presently has an average rating of “Buy” and an average target price of $249.00.

NVAX stock traded down $0.64 during trading on Thursday, hitting $200.07. 2,916,347 shares of the stock traded hands, compared to its average volume of 4,601,239. Novavax has a 1 year low of $94.67 and a 1 year high of $331.68. The firm’s 50 day moving average is $181.58 and its two-hundred day moving average is $193.04. The stock has a market cap of $15.13 billion, a price-to-earnings ratio of -13.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.24 and a quick ratio of 1.43.

In other news, insider Gregory M. Glenn sold 1,386 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $239.87, for a total value of $332,459.82. Following the transaction, the insider now owns 5,394 shares in the company, valued at approximately $1,293,858.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David M. Mott sold 24,961 shares of the stock in a transaction that occurred on Thursday, September 23rd. The stock was sold at an average price of $252.90, for a total transaction of $6,312,636.90. The disclosure for this sale can be found here. Insiders have sold a total of 226,332 shares of company stock worth $43,023,648 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC purchased a new stake in Novavax in the 2nd quarter worth approximately $32,000. Firestone Capital Management increased its holdings in Novavax by 200.0% in the 2nd quarter. Firestone Capital Management now owns 150 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Novavax by 58.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 166 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 61 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Novavax in the 2nd quarter worth approximately $37,000. Finally, Knuff & Co LLC purchased a new stake in Novavax in the 2nd quarter worth approximately $42,000. 52.77% of the stock is owned by institutional investors.

About Novavax

Novavax, Inc focuses on the discovery, development and commercialization of vaccines to prevent infectious diseases. It provides vaccines for COVID-19, seasonal flu, respiratory syncytial virus, Ebola, and Middle East respiratory syndrome. The company was founded in 1987 and is headquartered in Gaithersburg, MD.

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