$4.35 Million in Sales Expected for Novavax, Inc. (NVAX) This Quarter

Wall Street analysts expect that Novavax, Inc. (NASDAQ:NVAX) will announce $4.35 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Novavax’s earnings, with the lowest sales estimate coming in at $3.00 million and the highest estimate coming in at $5.70 million. Novavax posted sales of $9.65 million during the same quarter last year, which suggests a negative year-over-year growth rate of 54.9%. The firm is expected to report its next quarterly earnings results on Wednesday, May 8th.

On average, analysts expect that Novavax will report full year sales of $11.56 million for the current fiscal year, with estimates ranging from $5.90 million to $16.00 million. For the next fiscal year, analysts expect that the company will post sales of $0.00. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Novavax.

Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). The business had revenue of $6.13 million during the quarter, compared to analyst estimates of $7.87 million. During the same period in the previous year, the company earned ($0.16) earnings per share.

Several analysts have issued reports on the company. Zacks Investment Research lowered Novavax from a “buy” rating to a “hold” rating in a report on Friday, February 1st. BidaskClub raised Novavax from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Cantor Fitzgerald set a $1.00 price target on Novavax and gave the company a “hold” rating in a report on Tuesday, March 19th. LADENBURG THALM/SH SH set a $4.00 price target on Novavax and gave the company a “buy” rating in a report on Friday, January 4th. Finally, CIBC assumed coverage on Novavax in a report on Tuesday, December 11th. They set an “outperform” rating and a $4.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $2.71.

NASDAQ:NVAX traded up $0.01 during mid-day trading on Wednesday, hitting $0.55. 10,496,638 shares of the company traded hands, compared to its average volume of 27,808,778. Novavax has a one year low of $0.49 and a one year high of $2.58. The firm has a market capitalization of $238.28 million, a PE ratio of -1.10 and a beta of 2.08.

In other Novavax news, Director Rachel K. King acquired 86,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average price of $0.53 per share, with a total value of $45,580.00. Following the completion of the purchase, the director now directly owns 42,000 shares in the company, valued at approximately $22,260. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVAX. B. Riley Wealth Management Inc. lifted its position in shares of Novavax by 209.1% in the fourth quarter. B. Riley Wealth Management Inc. now owns 77,055 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 52,130 shares in the last quarter. Amalgamated Bank lifted its position in shares of Novavax by 32.0% in the fourth quarter. Amalgamated Bank now owns 54,361 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 13,171 shares in the last quarter. Millennium Management LLC lifted its position in shares of Novavax by 127.8% in the fourth quarter. Millennium Management LLC now owns 2,934,275 shares of the biopharmaceutical company’s stock worth $5,399,000 after buying an additional 1,645,934 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Novavax by 30.9% in the fourth quarter. Legal & General Group Plc now owns 74,389 shares of the biopharmaceutical company’s stock worth $137,000 after buying an additional 17,575 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Novavax by 76.6% in the fourth quarter. Jane Street Group LLC now owns 309,022 shares of the biopharmaceutical company’s stock worth $569,000 after buying an additional 134,022 shares in the last quarter. 35.93% of the stock is owned by hedge funds and other institutional investors.

Novavax Company Profile

Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.

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Earnings History and Estimates for Novavax (NASDAQ:NVAX)

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