Novavax, Inc. (NVAX) Expected to Announce Quarterly Sales of $5.90 Million
Wall Street analysts forecast that Novavax, Inc. (NASDAQ:NVAX) will announce sales of $5.90 million for the current quarter, Zacks reports. Two analysts have provided estimates for Novavax’s earnings, with the highest sales estimate coming in at $6.00 million and the lowest estimate coming in at $5.80 million. Novavax posted sales of $2.51 million in the same quarter last year, which suggests a positive year-over-year growth rate of 135.1%. The company is expected to report its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Novavax will report full-year sales of $5.90 million for the current financial year, with estimates ranging from $22.18 million to $29.20 million. For the next year, analysts forecast that the firm will post sales of $34.70 million per share, with estimates ranging from $24.90 million to $44.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Novavax.
Novavax (NASDAQ:NVAX) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm had revenue of $5.68 million during the quarter, compared to analyst estimates of $6.17 million. The company’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the company earned ($0.29) EPS.
A number of brokerages have recently issued reports on NVAX. Zacks Investment Research cut Novavax from a “buy” rating to a “hold” rating in a report on Friday, June 9th. ValuEngine cut Novavax from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Cantor Fitzgerald set a $2.00 price objective on Novavax and gave the stock a “hold” rating in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $5.56.
In other Novavax news, insider Stanley C. Erck purchased 50,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $0.84 per share, for a total transaction of $42,000.00. Following the completion of the transaction, the insider now owns 128,279 shares in the company, valued at $107,754.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 105,000 shares of company stock valued at $90,800. 4.00% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Novavax by 4.5% in 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 last quarter. State Street Corp increased its stake in Novavax by 99.2% in the fourth quarter. State Street Corp now owns 19,971,040 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 9,947,481 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Novavax by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 3,708,105 shares of the biopharmaceutical company’s stock worth $4,746,000 after buying an additional 1,095,388 shares during the last quarter. Norges Bank acquired a new stake in Novavax during the fourth quarter worth $3,300,000. Finally, Geode Capital Management LLC increased its stake in Novavax by 18.3% in 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 last quarter. Institutional investors own 49.98% of the company’s stock.
Novavax (NVAX) remained flat at $1.17 during trading on Friday. 1,960,509 shares of the company were exchanged. Novavax has a 52-week low of $0.73 and a 52-week high of $8.49. The company’s market cap is $330.64 million. The stock’s 50-day moving average is $1.06 and its 200-day moving average is $1.19.
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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