Novavax (NASDAQ:NVAX) Issues Earnings Results, Beats Estimates By $0.07 EPS

Novavax (NASDAQ:NVAX) released its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.07, Briefing.com reports. The firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. The business’s revenue was down 54.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.26) EPS. Novavax updated its FY 2024 guidance to EPS.

Novavax Price Performance

NASDAQ:NVAX traded up $0.10 during trading hours on Friday, hitting $7.32. 9,347,968 shares of the company were exchanged, compared to its average volume of 9,795,999. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.24 and a beta of 2.10. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86. The company’s 50 day moving average price is $11.35 and its 200-day moving average price is $12.38.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NVAX. B. Riley restated a “buy” rating and issued a $26.00 target price (up from $23.00) on shares of Novavax in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $19.00 price objective on shares of Novavax in a research note on Tuesday. Finally, Jefferies Financial Group reduced their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Novavax has an average rating of “Hold” and an average target price of $17.83.

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.