Analysts Set Expectations for Novavax, Inc.’s FY2018 Earnings (NVAX)
Novavax, Inc. (NASDAQ:NVAX) – Equities research analysts at Seaport Global Securities issued their FY2018 earnings per share (EPS) estimates for Novavax in a note issued to investors on Wednesday. Seaport Global Securities analyst V. Bernardino anticipates that the biopharmaceutical company will post earnings of ($0.59) per share for the year. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Novavax’s FY2019 earnings at ($0.56) EPS, FY2020 earnings at ($0.64) EPS and FY2021 earnings at $0.11 EPS.
A number of other research analysts have also recently commented on NVAX. BidaskClub cut Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $2.00 target price on shares of Novavax in a research note on Friday, July 21st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $1.50 target price on shares of Novavax in a research note on Wednesday, July 26th. Zacks Investment Research cut Novavax from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Chardan Capital reaffirmed a “neutral” rating and set a $1.50 target price on shares of Novavax in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.12.
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Novavax (NASDAQ NVAX) opened at $1.12 on Friday. Novavax has a 52 week low of $0.73 and a 52 week high of $1.78. The company has a debt-to-equity ratio of -4.28, a quick ratio of 3.54 and a current ratio of 3.31.
Novavax (NASDAQ:NVAX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $8.35 million for the quarter, compared to analysts’ expectations of $6.42 million. Novavax had a negative return on equity of 787.38% and a negative net margin of 726.35%. The company’s quarterly revenue was up 158.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) earnings per share.
In related news, Director James F. Young sold 175,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $1.06, for a total value of $185,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in NVAX. Wells Fargo & Company MN lifted its holdings in Novavax by 2.7% during the first quarter. Wells Fargo & Company MN now owns 343,714 shares of the biopharmaceutical company’s stock worth $440,000 after buying an additional 8,966 shares during the period. Bank of New York Mellon Corp lifted its holdings in Novavax by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 1,215,100 shares of the biopharmaceutical company’s stock worth $1,555,000 after buying an additional 10,347 shares during the period. American International Group Inc. lifted its holdings in Novavax by 7.1% during the first quarter. American International Group Inc. now owns 166,252 shares of the biopharmaceutical company’s stock worth $213,000 after buying an additional 10,965 shares during the period. Vanguard Group Inc. lifted its holdings in Novavax by 4.5% during the first quarter. Vanguard Group Inc. now owns 21,681,318 shares of the biopharmaceutical company’s stock worth $27,752,000 after buying an additional 938,581 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Novavax by 18.3% during the first quarter. Geode Capital Management LLC now owns 2,400,960 shares of the biopharmaceutical company’s stock worth $3,073,000 after buying an additional 371,295 shares during the period. 44.85% of the stock is currently owned by institutional investors.
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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