Novavax (NASDAQ:NVAX) Announces Earnings Results

Novavax (NASDAQ:NVAX) released its earnings results on Tuesday. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.11, Briefing.com reports. The firm had revenue of $84.51 million during the quarter, compared to the consensus estimate of $65.80 million. During the same period in the prior year, the company earned ($1.26) EPS. The firm’s revenue was down 54.8% compared to the same quarter last year. Novavax updated its FY 2024 guidance to EPS.

Novavax Stock Down 1.7 %

NVAX opened at $8.32 on Wednesday. Novavax has a one year low of $3.53 and a one year high of $23.86. The business has a 50 day simple moving average of $11.61 and a two-hundred day simple moving average of $12.41.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVAX. Jefferies Financial Group decreased their price objective on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on Novavax from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. B. Riley reissued a “buy” rating and issued a $26.00 target price (up previously from $23.00) on shares of Novavax in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Novavax in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.83.

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.