Novavax (NASDAQ:NVAX – Get Free Report) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.11, Briefing.com reports. The business had revenue of $84.51 million for the quarter, compared to the consensus estimate of $65.80 million. During the same period in the previous year, the firm earned ($1.26) EPS. The company’s revenue was down 54.8% on a year-over-year basis. Novavax updated its FY 2024 guidance to EPS.
Novavax Stock Down 7.0 %
NVAX opened at $7.22 on Friday. Novavax has a fifty-two week low of $3.53 and a fifty-two week high of $23.86. The company has a fifty day moving average of $11.44 and a 200 day moving average of $12.41.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Novavax in a report on Tuesday. B. Riley restated a “buy” rating and set a $26.00 price objective (up from $23.00) on shares of Novavax in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.
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