Novavax (NASDAQ:NVAX) – Stock analysts at B. Riley boosted their FY2021 earnings per share estimates for shares of Novavax in a research note issued to investors on Wednesday, May 16th. B. Riley analyst G. Zavoico now expects that the biopharmaceutical company will post earnings per share of $0.41 for the year, up from their prior forecast of $0.35. B. Riley currently has a “Buy” rating on the stock.
Novavax (NASDAQ:NVAX) last announced its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $9.70 million during the quarter, compared to analyst estimates of $9.33 million. During the same period in the prior year, the company posted ($0.16) EPS. The firm’s quarterly revenue was up 70.2% on a year-over-year basis.
A number of other analysts have also recently commented on the company. JPMorgan Chase cut Novavax from a “neutral” rating to an “underweight” rating in a research report on Monday, March 19th. BidaskClub upgraded Novavax from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 21st. Zacks Investment Research upgraded Novavax from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Wednesday, April 11th. Citigroup reiterated a “hold” rating and set a $3.00 price objective on shares of Novavax in a research report on Tuesday, February 20th. Finally, Seaport Global Securities upgraded Novavax from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Thursday, March 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.37.
Shares of Novavax opened at $1.72 on Thursday, Marketbeat.com reports. Novavax has a fifty-two week low of $0.90 and a fifty-two week high of $2.75. The firm has a market capitalization of $683.20 million, a PE ratio of -2.73 and a beta of 2.42. The company has a debt-to-equity ratio of -3.20, a current ratio of 4.03 and a quick ratio of 4.03.
A number of large investors have recently modified their holdings of NVAX. Xact Kapitalforvaltning AB acquired a new stake in Novavax in the 1st quarter worth about $119,000. Teacher Retirement System of Texas boosted its stake in Novavax by 349.8% in the 4th quarter. Teacher Retirement System of Texas now owns 99,952 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 77,733 shares during the last quarter. Aperio Group LLC boosted its stake in Novavax by 121.1% in the 4th quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 63,155 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Novavax in the 4th quarter worth about $172,000. Finally, Fisher Asset Management LLC acquired a new stake in Novavax in the 4th quarter worth about $179,000. 33.41% of the stock is currently owned by hedge funds and other institutional investors.
In other Novavax news, insider Stanley C. Erck purchased 100,000 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were purchased at an average cost of $1.65 per share, with a total value of $165,000.00. Following the purchase, the insider now owns 328,279 shares in the company, valued at $541,660.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Trizzino purchased 50,000 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was acquired at an average cost of $1.64 per share, for a total transaction of $82,000.00. Following the completion of the purchase, the senior vice president now owns 138,965 shares in the company, valued at approximately $227,902.60. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.
Novavax, Inc, together with its subsidiary, Novavax AB, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of recombinant nanoparticle vaccines and adjuvants. Its lead adjuvant is Matrix-M that is used to enable a vaccine to enhance the amplitude of the immune response and qualitatively change it, enhance its specificity to provide protection against related microorganisms, as well as allows immunization with much lower doses of antigen.
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