Novavax, Inc. (NVAX) Expected to Post Quarterly Sales of $9.60 Million

Brokerages expect that Novavax, Inc. (NASDAQ:NVAX) will report $9.60 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Novavax’s earnings, with the lowest sales estimate coming in at $9.20 million and the highest estimate coming in at $10.00 million. Novavax reported sales of $5.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 69%. The business is expected to announce its next earnings report on Monday, May 14th.

According to Zacks, analysts expect that Novavax will report full-year sales of $9.60 million for the current year, with estimates ranging from $31.35 million to $45.00 million. For the next financial year, analysts anticipate that the firm will report sales of $18.09 million per share, with estimates ranging from $4.47 million to $31.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Novavax.

How to Become a New Pot Stock Millionaire

Novavax (NASDAQ:NVAX) last issued its quarterly earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $10.40 million for the quarter, compared to analyst estimates of $7.98 million. Novavax’s quarterly revenue was up 92.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share.

A number of analysts recently weighed in on NVAX shares. Citigroup reissued a “hold” rating and issued a $3.00 price target on shares of Novavax in a report on Tuesday, February 20th. Zacks Investment Research lowered shares of Novavax from a “hold” rating to a “sell” rating in a report on Thursday, March 8th. BidaskClub lowered shares of Novavax from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. B. Riley set a $10.00 price target on shares of Novavax and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 price target on shares of Novavax in a report on Monday, December 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $3.23.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVAX. The Manufacturers Life Insurance Company boosted its holdings in Novavax by 6.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 232,406 shares of the biopharmaceutical company’s stock valued at $267,000 after purchasing an additional 14,114 shares during the period. Voya Investment Management LLC grew its holdings in Novavax by 18.6% in the second quarter. Voya Investment Management LLC now owns 138,270 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 21,639 shares during the period. Bank of New York Mellon Corp grew its holdings in Novavax by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,391,862 shares of the biopharmaceutical company’s stock worth $1,725,000 after purchasing an additional 34,219 shares during the period. California State Teachers Retirement System grew its holdings in Novavax by 8.3% in the fourth quarter. California State Teachers Retirement System now owns 492,492 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 37,793 shares during the period. Finally, Aperio Group LLC grew its holdings in Novavax by 121.1% in the fourth quarter. Aperio Group LLC now owns 115,323 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 63,155 shares during the period. 36.88% of the stock is owned by hedge funds and other institutional investors.

Shares of Novavax (NVAX) traded up $0.10 during trading on Friday, hitting $2.10. 7,604,431 shares of the company were exchanged, compared to its average volume of 12,013,437. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of -3.12. The firm has a market capitalization of $687.48, a price-to-earnings ratio of -3.33 and a beta of 2.50. Novavax has a fifty-two week low of $0.73 and a fifty-two week high of $2.75.

TRADEMARK VIOLATION NOTICE: This piece was reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3303076/novavax-inc-nvax-expected-to-post-quarterly-sales-of-9-60-million.html.

About Novavax

Novavax, Inc is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company operates through developing recombinant vaccines segment. The Company, through its recombinant nanoparticle vaccine technology, produces vaccine candidates to respond to both known and newly emerging diseases.

Get a free copy of the Zacks research report on Novavax (NVAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Novavax (NASDAQ:NVAX)

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.

Latest News

Evolus  Rating Reiterated by Mizuho
Evolus Rating Reiterated by Mizuho
Vijay Sappani Sells 53,000 Shares of TerrAscend  Stock
Vijay Sappani Sells 53,000 Shares of TerrAscend Stock
FLIR Systems  Set to Announce Earnings on Tuesday
FLIR Systems Set to Announce Earnings on Tuesday
ARMOUR Residential REIT  to Release Quarterly Earnings on Monday
ARMOUR Residential REIT to Release Quarterly Earnings on Monday
Loews  to Release Quarterly Earnings on Monday
Loews to Release Quarterly Earnings on Monday
Sowell Financial Services LLC Grows Holdings in ExxonMobil
Sowell Financial Services LLC Grows Holdings in ExxonMobil


© 2006-2018 Ticker Report. Google+.