Equities research analysts predict that Novavax, Inc. (NASDAQ:NVAX) will report sales of $291.88 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Novavax’s earnings. The lowest sales estimate is $150.00 million and the highest is $433.10 million. Novavax posted sales of $3.38 million during the same quarter last year, which suggests a positive year over year growth rate of 8,535.5%. The business is scheduled to announce its next earnings results on Monday, May 10th.
On average, analysts expect that Novavax will report full-year sales of $4.07 billion for the current year, with estimates ranging from $2.44 billion to $5.76 billion. For the next year, analysts expect that the company will report sales of $4.54 billion, with estimates ranging from $3.04 billion to $6.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Novavax.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Monday, March 1st. The biopharmaceutical company reported ($2.70) EPS for the quarter, missing the consensus estimate of ($1.53) by ($1.17). Novavax had a negative net margin of 133.10% and a negative return on equity of 1,346.17%. The business had revenue of $279.66 million during the quarter, compared to the consensus estimate of $202.44 million. During the same quarter in the prior year, the firm posted ($1.13) EPS. The company’s revenue for the quarter was up 3072.2% compared to the same quarter last year.
Several equities research analysts have recently commented on NVAX shares. B. Riley boosted their price target on shares of Novavax from $223.00 to $334.00 and gave the company a “buy” rating in a report on Monday, February 1st. Jefferies Financial Group started coverage on shares of Novavax in a research note on Monday, December 14th. They set a “buy” rating and a $200.00 price objective for the company. Cantor Fitzgerald boosted their price objective on shares of Novavax from $248.00 to $338.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Zacks Investment Research upgraded shares of Novavax from a “sell” rating to a “strong-buy” rating and set a $134.00 price objective for the company in a research note on Tuesday, January 12th. Finally, HC Wainwright boosted their price objective on shares of Novavax from $207.00 to $317.00 and gave the stock a “buy” rating in a research note on Thursday, March 18th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $217.69.
In other news, Director Gary C. Evans sold 24,500 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $211.21, for a total value of $5,174,645.00. Following the sale, the director now directly owns 18,099 shares of the company’s stock, valued at approximately $3,822,689.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Trizzino sold 191 shares of the company’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $178.03, for a total transaction of $34,003.73. Following the completion of the sale, the executive vice president now directly owns 704 shares in the company, valued at $125,333.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,497 shares of company stock worth $13,928,932. 3.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of Novavax by 29.2% in the 4th quarter. Northern Trust Corp now owns 940,610 shares of the biopharmaceutical company’s stock valued at $104,888,000 after acquiring an additional 212,417 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Novavax in the 3rd quarter valued at $64,730,000. Norges Bank acquired a new position in shares of Novavax in the 4th quarter valued at $62,300,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Novavax by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,885 shares of the biopharmaceutical company’s stock valued at $44,034,000 after purchasing an additional 13,159 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Novavax by 81.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 346,018 shares of the biopharmaceutical company’s stock valued at $38,584,000 after purchasing an additional 154,858 shares during the period. 49.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:NVAX traded up $6.66 during trading hours on Monday, hitting $178.43. The company’s stock had a trading volume of 73,023 shares, compared to its average volume of 4,294,041. Novavax has a 52 week low of $16.30 and a 52 week high of $331.68. The company has a debt-to-equity ratio of 3.61, a current ratio of 2.81 and a quick ratio of 2.81. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of -33.80 and a beta of 2.01. The firm’s fifty day moving average price is $209.29 and its 200 day moving average price is $150.54.
Novavax Company Profile
Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.
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