Novavax (NASDAQ:NVAX) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01, MarketWatch Earnings reports. The company had revenue of $3.98 million during the quarter, compared to analyst estimates of $4.80 million. During the same period in the prior year, the business earned ($0.14) earnings per share.
Shares of NASDAQ:NVAX traded down $0.05 on Friday, hitting $0.47. The company’s stock had a trading volume of 24,394,226 shares, compared to its average volume of 15,202,712. Novavax has a 12 month low of $0.47 and a 12 month high of $2.58. The stock has a market cap of $235.38 million, a price-to-earnings ratio of -0.95 and a beta of 1.99.
Several brokerages have weighed in on NVAX. Piper Jaffray Companies lowered Novavax from an “overweight” rating to an “underweight” rating in a research report on Thursday, February 28th. HC Wainwright increased their target price on Novavax from $2.00 to $2.13 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. BidaskClub raised Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research raised Novavax from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered Novavax from an “overweight” rating to an “underweight” rating in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $2.69.
A number of hedge funds have recently made changes to their positions in NVAX. DAVENPORT & Co LLC boosted its stake in Novavax by 400.0% during the first quarter. DAVENPORT & Co LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 40,000 shares in the last quarter. Wedbush Securities Inc. boosted its stake in Novavax by 102.1% during the first quarter. Wedbush Securities Inc. now owns 54,444 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 27,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Novavax by 131.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,729 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 9,515 shares in the last quarter. Opti Capital Management LP bought a new position in Novavax during the fourth quarter valued at about $39,000. Finally, Oppenheimer & Co. Inc. bought a new position in Novavax during the first quarter valued at about $40,000. 33.77% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was first posted by Week Herald and is owned by of Week Herald. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://weekherald.com/2019/05/03/novavax-nvax-issues-quarterly-earnings-results.html.
Novavax, Inc, together with its subsidiary, Novavax AB, a late-stage biotechnology company, focuses on the discovery, development, and commercialization of vaccines to prevent serious infectious diseases. The company's lead vaccine candidates include ResVax, a respiratory syncytial virus (RSV) fusion (F) protein recombinant nanoparticle vaccine with aluminum phosphate as an adjuvant that is in Phase III clinical trial to protect infants from RSV disease through maternal immunization; and NanoFlu, which is in Phase II clinical trial for treating seasonal influenza in older adults.
Recommended Story: How to Trade Using Analysts Ratings
Receive News & Ratings for Novavax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novavax and related companies with MarketBeat.com's FREE daily email newsletter.