Piper Jaffray Companies Analysts Boost Earnings Estimates for Novavax, Inc. (NVAX)

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Novavax, Inc. (NASDAQ:NVAX) – Research analysts at Piper Jaffray Companies increased their Q3 2018 earnings per share estimates for Novavax in a report issued on Wednesday, August 8th. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the biopharmaceutical company will post earnings per share of ($0.11) for the quarter, up from their previous forecast of ($0.12). Piper Jaffray Companies has a “Neutral” rating and a $2.00 price target on the stock. Piper Jaffray Companies also issued estimates for Novavax’s FY2019 earnings at ($0.47) EPS.

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.02 million. During the same quarter in the previous year, the company posted ($0.16) EPS. The company’s revenue for the quarter was up 61.2% compared to the same quarter last year.

NVAX has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. ValuEngine upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, BidaskClub lowered shares of Novavax from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $3.61.

Shares of Novavax stock opened at $1.43 on Monday. The company has a current ratio of 4.52, a quick ratio of 4.03 and a debt-to-equity ratio of -3.63. Novavax has a 12-month low of $0.96 and a 12-month high of $2.75. The company has a market cap of $562.41 million, a price-to-earnings ratio of -2.27 and a beta of 2.32.

Hedge funds have recently added to or reduced their stakes in the company. Taylor Wealth Management Partners boosted its holdings in shares of Novavax by 122.1% in the 2nd quarter. Taylor Wealth Management Partners now owns 1,256,495 shares of the biopharmaceutical company’s stock valued at $1,684,000 after acquiring an additional 690,805 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in shares of Novavax in the 1st quarter valued at $161,000. Two Sigma Investments LP purchased a new stake in shares of Novavax in the 4th quarter valued at $215,000. Geode Capital Management LLC boosted its holdings in shares of Novavax by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 2,945,721 shares of the biopharmaceutical company’s stock valued at $3,652,000 after acquiring an additional 446,318 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Novavax in the 1st quarter valued at $236,000. 40.66% of the stock is currently owned by institutional investors and hedge funds.

Novavax Company Profile

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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Earnings History and Estimates for Novavax (NASDAQ:NVAX)

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