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

Novavax, Inc. (NASDAQ:NVAX) – Investment analysts at HC Wainwright issued their Q3 2024 earnings per share estimates for Novavax in a research note issued on Tuesday, November 12th. HC Wainwright analyst V. Bernardino expects that the biopharmaceutical company will earn ($0.64) per share for the quarter. HC Wainwright has a “Buy” rating and a $19.00 price objective 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.

Other analysts also recently issued reports about the company. Jefferies Financial Group cut their target price on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. B. Riley restated a “buy” rating and set a $26.00 target price (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and an average target price of $17.83.

Novavax Stock Down 8.2 %

NASDAQ:NVAX opened at $7.77 on Thursday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -3.44 and a beta of 2.10. The company’s 50 day moving average price is $11.44 and its 200-day moving average price is $12.41. Novavax has a 52 week low of $3.53 and a 52 week high of $23.86.

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

Institutional Investors Weigh In On Novavax

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

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.