Novavax (NASDAQ:NVAX) Announces Quarterly Earnings Results

Novavax (NASDAQ:NVAX) announced 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 for the quarter, compared to analyst estimates of $65.80 million. Novavax’s revenue was down 54.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.26) EPS. Novavax updated its FY 2024 guidance to EPS.

Novavax Stock Performance

NVAX stock opened at $8.46 on Wednesday. The stock’s fifty day simple moving average is $11.61 and its 200-day simple moving average is $12.41. Novavax has a 52-week low of $3.53 and a 52-week high of $23.86.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NVAX shares. JPMorgan Chase & Co. boosted their price target on shares of Novavax from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Novavax in a research report on Tuesday. Jefferies Financial Group cut their price target on Novavax from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price target (up previously from $23.00) on shares of Novavax in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.