Novavax, Inc. (NASDAQ:NVAX – Free Report) – Equities researchers at B. Riley lifted their Q3 2023 earnings per share estimates for shares of Novavax in a report released on Wednesday, August 9th. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings of ($0.88) per share for the quarter, up from their previous forecast of ($1.51). B. Riley currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.71) per share. B. Riley also issued estimates for Novavax’s FY2023 earnings at ($2.82) EPS, FY2024 earnings at ($2.37) EPS, FY2025 earnings at ($1.02) EPS and FY2026 earnings at ($0.37) EPS.
Novavax (NASDAQ:NVAX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $1.82. The company had revenue of $424.40 million during the quarter, compared to analysts’ expectations of $264.16 million. Novavax’s revenue for the quarter was up 128.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($6.53) EPS.
View Our Latest Research Report on NVAX
Novavax Price Performance
NVAX opened at $7.36 on Friday. The stock has a 50-day moving average price of $7.88 and a 200-day moving average price of $8.16. The firm has a market cap of $694.81 million, a PE ratio of -1.01 and a beta of 1.68. Novavax has a 1 year low of $5.61 and a 1 year high of $44.02.
Institutional Investors Weigh In On Novavax
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its stake in shares of Novavax by 124.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,809 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 1,004 shares during the period. US Bancorp DE grew its stake in shares of Novavax by 41.8% during the 1st quarter. US Bancorp DE now owns 2,083 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 614 shares during the period. Neuberger Berman Group LLC boosted its stake in Novavax by 34.9% in the 1st quarter. Neuberger Berman Group LLC now owns 2,764 shares of the biopharmaceutical company’s stock worth $204,000 after purchasing an additional 715 shares during the period. Toroso Investments LLC boosted its stake in Novavax by 15.3% in the 1st quarter. Toroso Investments LLC now owns 3,297 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 437 shares during the period. Finally, PDT Partners LLC bought a new position in Novavax in the 1st quarter worth approximately $243,000. Hedge funds and other institutional investors own 68.18% of the company’s stock.
About Novavax
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.
Recommended Stories
- Five stocks we like better than Novavax
- What Do S&P 500 Stocks Tell Investors About the Market?
- Investing in Coffee: 3 Great Strategies to Consider
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- 5 Best Stocks to Buy in a Bear Market
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- 3 Pharmaceutical Stocks to Buy and Hold for the Long Haul
Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.
