Novavax (NASDAQ:NVAX) Releases Earnings Results, Beats Estimates By $0.24 EPS

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Novavax (NASDAQ:NVAX) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.98) by $0.24, RTT News reports. The firm had revenue of $2.51 million during the quarter, compared to analyst estimates of $4.40 million. During the same quarter last year, the firm posted ($2.40) EPS.

Shares of NASDAQ:NVAX traded up $0.09 during mid-day trading on Friday, hitting $4.59. The company had a trading volume of 858,200 shares, compared to its average volume of 807,410. Novavax has a one year low of $4.01 and a one year high of $51.60. The company has a market capitalization of $106.69 million, a PE ratio of -0.46 and a beta of 1.90. The firm has a fifty day moving average price of $4.91 and a 200 day moving average price of $4.94.

NVAX has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Novavax from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. ValuEngine upgraded shares of Novavax from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Novavax in a research report on Thursday, October 17th. HC Wainwright boosted their price target on shares of Novavax from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Citigroup dropped their price target on shares of Novavax from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.15.

In other Novavax news, SVP John A. Herrmann III sold 3,643 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $7.07, for a total transaction of $25,756.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gregory M. Glenn sold 9,620 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.18, for a total transaction of $59,451.60. Following the sale, the insider now directly owns 123 shares in the company, valued at $760.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,841 shares of company stock valued at $117,114. Company insiders own 3.30% of the company’s stock.

About Novavax

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.

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Earnings History for Novavax (NASDAQ:NVAX)

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