Novavax (NASDAQ:NVAX) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Novavax (NASDAQ:NVAX) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.06, FiscalAI reports. The firm had revenue of $56.70 million during the quarter, compared to analyst estimates of $52.51 million. Novavax had a negative return on equity of 14.82% and a negative net margin of 59.87%.The company’s revenue for the quarter was down 76.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS.

Here are the key takeaways from Novavax’s conference call:

• Sanofi partnership momentum strengthened: Sanofi is in advanced regulatory discussions for a Phase III COVID-19/flu combination vaccine, which could trigger a $125 million milestone, while a manufacturing tech-transfer milestone could add $75 million by mid-2027 and extend Novavax’s cash runway into 2029.
• 2026 financial outlook improved: Novavax raised its adjusted revenue framework to $235 million-$275 million, citing stronger Matrix-M demand and expected Takeda and Serum Institute royalties and milestones, while lowering combined GAAP R&D and SG&A expense guidance by $10 million at the midpoint.
• Matrix-M partnering activity is broadening: Four of the top 10 global pharmaceutical companies now have licensing or material-transfer agreements, covering more than 30 areas of experimentation across infectious disease and oncology. Novavax also signed an oncology-focused MTA with a leading global pharmaceutical company.
• Pipeline progress remains early-stage: The preventive C. difficile vaccine began GMP manufacturing and pre-IND discussions, with potential clinical entry as early as 2027, while oncology data are encouraging but remain primarily mechanistic or preclinical and partner timelines are uncertain.
• Reported results reflect ongoing losses and potential restructuring charges: Second-quarter revenue fell to $57 million from $239 million a year earlier, largely because 2025 included a $202 million milestone and Takeda amendment benefit; Novavax posted a $53 million net loss and flagged up to a $35 million non-cash fixed-asset write-off in 2027.

Novavax Stock Up 2.7%

Shares of NVAX stock opened at $7.95 on Friday. Novavax has a 12 month low of $6.20 and a 12 month high of $11.97. The firm has a market cap of $1.31 billion, a PE ratio of -5.23 and a beta of 2.46. The stock has a 50 day moving average of $8.72 and a 200-day moving average of $8.97.

Novavax News Roundup

Here are the key news stories impacting Novavax this week:

• Positive Sentiment: Novavax reported a second-quarter adjusted loss of $0.32 per share, better than the expected $0.38 loss, while revenue of $56.7 million exceeded estimates of approximately $52.5 million. NVAX Q2 Earnings & Sales Beat Estimates, 2026 Sales Outlook Raised
• Positive Sentiment: The company raised its full-year 2026 adjusted revenue framework to $235 million-$275 million from $230 million-$270 million and reduced combined GAAP research and development and selling, general and administrative expense guidance by $10 million at the midpoint. Novavax Raises 2026 Outlook After Q2 Beat
• Positive Sentiment: Novavax said completion of its manufacturing technology transfer to Sanofi is expected in mid-2027, potentially triggering a $75 million milestone payment. Sanofi also plans to advance discussions with regulators regarding timing for its Phase 3 COVID-19 and influenza combination-vaccine trial. Novavax Lifts Annual Revenue Forecast
• Neutral Sentiment: Novavax ended June with approximately $724 million in cash, cash equivalents, marketable securities and restricted cash. It also highlighted partner-led Matrix-M projects and plans to move its C. difficile vaccine program into clinical development as early as 2027. Novavax Reports Second Quarter 2026 Financial Results
• Negative Sentiment: Revenue fell approximately 76% from the prior-year quarter to $56.7 million, product sales were only $19 million, and Novavax posted a $53 million net loss versus $107 million of net income a year earlier. The results underscore the company’s dependence on licensing revenue and milestone payments as vaccine demand wanes. Novavax Q2 Revenue Falls 76 Percent

Institutional Investors Weigh In On Novavax

Several hedge funds and other institutional investors have recently modified their holdings of NVAX. Invesco Ltd. raised its stake in Novavax by 12.9% during the 4th quarter. Invesco Ltd. now owns 259,380 shares of the biopharmaceutical company’s stock valued at $1,743,000 after purchasing an additional 29,704 shares during the last quarter. VARCOV Co. bought a new stake in Novavax in the 4th quarter valued at $263,000. Virtus Investment Advisers LLC grew its position in Novavax by 67.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 104,019 shares of the biopharmaceutical company’s stock worth $699,000 after purchasing an additional 41,866 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in Novavax in the 4th quarter worth $145,000. Finally, Man Group plc acquired a new stake in Novavax in the 4th quarter worth $290,000. Institutional investors and hedge funds own 53.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NVAX. Zacks Research lowered shares of Novavax from a “strong-buy” rating to a “hold” rating in a research report on Thursday. TD Cowen upped their price objective on shares of Novavax from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and issued a $19.00 target price on shares of Novavax in a research note on Thursday, June 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Novavax in a report on Tuesday. Finally, Wall Street Zen lowered shares of Novavax from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Novavax presently has a consensus rating of “Hold” and an average target price of $13.00.

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.