Zacks: Analysts Anticipate Novavax, Inc. (NASDAQ:NVAX) Will Announce Quarterly Sales of $291.88 Million


Share on StockTwits

Equities research analysts forecast that Novavax, Inc. (NASDAQ:NVAX) will post $291.88 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Novavax’s earnings, with estimates ranging from $150.00 million to $433.10 million. Novavax reported sales of $3.38 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8,535.5%. The business is scheduled to issue its next earnings results on Monday, May 10th.

According to Zacks, analysts expect that Novavax will report full year sales of $4.07 billion for the current year, with estimates ranging from $2.44 billion to $5.76 billion. For the next year, analysts forecast that the company will post sales of $4.54 billion, with estimates ranging from $3.04 billion to $6.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Novavax.

Novavax (NASDAQ:NVAX) last issued its earnings results on Monday, March 1st. The biopharmaceutical company reported ($2.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.53) by ($1.17). The business had revenue of $279.66 million during the quarter, compared to the consensus estimate of $202.44 million. Novavax had a negative return on equity of 1,346.17% and a negative net margin of 133.10%. The business’s revenue was up 3072.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.13) EPS.

A number of research firms have recently weighed in on NVAX. Cantor Fitzgerald lifted their price target on Novavax from $248.00 to $338.00 and gave the company an “overweight” rating in a report on Friday, February 5th. Jefferies Financial Group began coverage on Novavax in a report on Monday, December 14th. They set a “buy” rating and a $200.00 price target on the stock. Zacks Investment Research raised Novavax from a “sell” rating to a “strong-buy” rating and set a $134.00 price target on the stock in a report on Tuesday, January 12th. B. Riley lifted their price target on Novavax from $223.00 to $334.00 and gave the company a “buy” rating in a report on Monday, February 1st. Finally, HC Wainwright raised their price objective on shares of Novavax from $207.00 to $317.00 and gave the company a “buy” rating in a research note on Thursday, March 18th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $217.69.

In other Novavax news, EVP John Trizzino sold 191 shares of Novavax stock in a transaction that occurred on Wednesday, April 7th. The shares were sold at an average price of $178.03, for a total value of $34,003.73. Following the transaction, the executive vice president now owns 704 shares in the company, valued at $125,333.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gregory M. Glenn sold 2,434 shares of Novavax stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $269.57, for a total transaction of $656,133.38. Insiders have sold 64,497 shares of company stock worth $13,928,932 in the last quarter. Company insiders own 3.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp grew its position in Novavax by 29.2% in the fourth quarter. Northern Trust Corp now owns 940,610 shares of the biopharmaceutical company’s stock worth $104,888,000 after buying an additional 212,417 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Novavax in the 3rd quarter worth approximately $64,730,000. Norges Bank acquired a new position in Novavax in the 4th quarter worth approximately $62,300,000. Charles Schwab Investment Management Inc. boosted its stake in Novavax by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 394,885 shares of the biopharmaceutical company’s stock worth $44,034,000 after purchasing an additional 13,159 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Novavax by 81.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 346,018 shares of the biopharmaceutical company’s stock worth $38,584,000 after purchasing an additional 154,858 shares during the period. Hedge funds and other institutional investors own 49.91% of the company’s stock.

Shares of NVAX traded up $3.47 during mid-day trading on Monday, reaching $179.74. 2,142,191 shares of the company’s stock traded hands, compared to its average volume of 4,223,301. The business’s 50-day moving average price is $205.52 and its 200-day moving average price is $151.19. The stock has a market capitalization of $13.28 billion, a P/E ratio of -34.43 and a beta of 2.01. The company has a debt-to-equity ratio of 3.61, a quick ratio of 2.81 and a current ratio of 2.81. Novavax has a 12 month low of $16.41 and a 12 month high of $331.68.

Novavax Company Profile

Novavax, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases and address health needs. The company's vaccine candidates include NVX-CoV2373, a coronavirus vaccine candidate that is in two Phase III trials, one Phase IIb trial, and one Phase I/II trial; NanoFlu, a nanoparticle seasonal quadrivalent influenza vaccine candidate that is in Phase 3 clinical trial; and ResVax, a respiratory syncytial virus (RSV) fusion (F) protein nanoparticle vaccine candidate.

See Also: 52-Week High/Low

Get a free copy of the Zacks research report on Novavax (NVAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Novavax (NASDAQ:NVAX)

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.