Analysts Expect Novavax, Inc. (NVAX) Will Announce Quarterly Sales of $8.32 Million
Brokerages expect Novavax, Inc. (NASDAQ:NVAX) to report $8.32 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Novavax’s earnings, with estimates ranging from $6.00 million to $10.30 million. Novavax posted sales of $5.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 54.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, February 26th.
According to Zacks, analysts expect that Novavax will report full year sales of $8.32 million for the current year, with estimates ranging from $26.76 million to $31.00 million. For the next fiscal year, analysts forecast that the business will report sales of $35.24 million per share, with estimates ranging from $27.50 million to $42.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Novavax.
Novavax (NASDAQ:NVAX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $8.35 million for the quarter, compared to the consensus estimate of $6.42 million. During the same period in the previous year, the business posted ($0.24) EPS. Novavax’s revenue was up 158.5% on a year-over-year basis.
A number of brokerages recently weighed in on NVAX. Cantor Fitzgerald reissued a “hold” rating and set a $2.00 target price on shares of Novavax in a research note on Monday, December 18th. BidaskClub downgraded shares of Novavax from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Ladenburg Thalmann Financial Services lifted their target price on shares of Novavax to $2.50 and gave the stock a “buy” rating in a research note on Thursday. B. Riley set a $2.25 target price on shares of Novavax and gave the stock a “buy” rating in a research note on Friday, January 5th. Finally, Zacks Investment Research downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $3.68.
In related news, insider Stanley C. Erck purchased 100,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $1.13 per share, with a total value of $113,000.00. Following the completion of the purchase, the insider now owns 228,279 shares in the company, valued at approximately $257,955.27. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NVAX. Schwab Charles Investment Management Inc. increased its stake in Novavax by 39.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,153,971 shares of the biopharmaceutical company’s stock valued at $1,328,000 after purchasing an additional 326,415 shares in the last quarter. Rhumbline Advisers increased its stake in Novavax by 7.2% in the second quarter. Rhumbline Advisers now owns 346,968 shares of the biopharmaceutical company’s stock valued at $399,000 after purchasing an additional 23,410 shares in the last quarter. State of Wisconsin Investment Board bought a new stake in Novavax in the second quarter valued at $230,000. Bank of New York Mellon Corp increased its stake in Novavax by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 1,391,610 shares of the biopharmaceutical company’s stock valued at $1,600,000 after purchasing an additional 176,510 shares in the last quarter. Finally, Federated Investors Inc. PA bought a new stake in Novavax in the second quarter valued at $232,000. 35.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Novavax (NVAX) traded down $0.37 during midday trading on Friday, reaching $1.61. 31,501,010 shares of the company were exchanged, compared to its average volume of 12,671,131. Novavax has a fifty-two week low of $0.73 and a fifty-two week high of $2.14. The company has a market capitalization of $520.40, a P/E ratio of -2.37 and a beta of 2.03. The company has a debt-to-equity ratio of -4.28, a current ratio of 3.31 and a quick ratio of 3.31.
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Novavax Company Profile
Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.
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