Novavax, Inc. (NASDAQ:NVAX – Free Report) – Equities research analysts at HC Wainwright lifted their Q3 2023 EPS estimates for shares of Novavax in a research note issued on Thursday, August 10th. HC Wainwright analyst V. Bernardino now anticipates that the biopharmaceutical company will earn $0.28 per share for the quarter, up from their previous forecast of ($0.51). HC Wainwright has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for Novavax’s current full-year earnings is ($1.95) per share. HC Wainwright also issued estimates for Novavax’s Q4 2023 earnings at $0.50 EPS, FY2023 earnings at ($1.26) EPS and FY2024 earnings at $5.12 EPS.
Several other research analysts have also recently commented on the stock. B. Riley upgraded shares of Novavax from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, August 9th. TD Cowen cut shares of Novavax from an “outperform” rating to a “market perform” rating in a report on Thursday, April 20th. Finally, StockNews.com upgraded shares of Novavax from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.00.
Novavax Stock Down 4.3 %
Shares of NVAX opened at $7.36 on Monday. Novavax has a fifty-two week low of $5.61 and a fifty-two week high of $44.02. The company has a market cap of $694.78 million, a P/E ratio of -1.01 and a beta of 1.68. The firm’s 50 day moving average price is $7.88 and its 200 day moving average price is $8.08.
Novavax (NASDAQ:NVAX – Get Free Report) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported $0.58 earnings per share for the quarter, topping the consensus estimate of ($1.24) by $1.82. The business had revenue of $424.40 million for the quarter, compared to analysts’ expectations of $264.16 million. During the same period in the previous year, the company earned ($6.53) earnings per share. Novavax’s quarterly revenue was up 128.3% on a year-over-year basis.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Novavax by 82.7% in the 1st quarter. State Street Corp now owns 11,102,625 shares of the biopharmaceutical company’s stock valued at $76,941,000 after buying an additional 5,026,107 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Novavax by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,495,924 shares of the biopharmaceutical company’s stock valued at $136,426,000 after buying an additional 144,999 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Novavax by 46.5% in the 2nd quarter. BlackRock Inc. now owns 6,994,773 shares of the biopharmaceutical company’s stock valued at $51,971,000 after buying an additional 2,220,039 shares in the last quarter. Shah Capital Management boosted its holdings in shares of Novavax by 28.9% in the 2nd quarter. Shah Capital Management now owns 5,480,756 shares of the biopharmaceutical company’s stock valued at $40,722,000 after buying an additional 1,229,680 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Novavax by 25.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,540,383 shares of the biopharmaceutical company’s stock worth $24,535,000 after purchasing an additional 718,700 shares during the period. Institutional investors and hedge funds 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.
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