Novavax (NASDAQ:NVAX – Get Free Report) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.11, Briefing.com reports. The business had revenue of $84.51 million during the quarter, compared to analysts’ expectations of $65.80 million. During the same period last year, the business posted ($1.26) earnings per share. The company’s revenue for the quarter was down 54.8% compared to the same quarter last year. Novavax updated its FY 2024 guidance to EPS.
Novavax Price Performance
Shares of NASDAQ NVAX opened at $7.22 on Friday. Novavax has a 1 year low of $3.53 and a 1 year high of $23.86. The firm has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $12.41.
Analyst Upgrades and Downgrades
Several equities analysts have commented on NVAX shares. JPMorgan Chase & Co. increased their price objective 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. Jefferies Financial Group dropped their price target on Novavax from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. HC Wainwright reissued a “buy” rating and set a $19.00 price objective on shares of Novavax in a research note on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Novavax in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.
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