Novavax (NASDAQ:NVAX) Announces Earnings Results

Novavax (NASDAQ:NVAX) released its quarterly earnings data on Friday. The biopharmaceutical company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $2.74, Zacks reports. The business had revenue of $666.66 million for the quarter, compared to analyst estimates of $204.08 million. During the same period in the prior year, the company posted ($1.05) earnings per share. The company’s revenue was up 610.3% compared to the same quarter last year.

Novavax Stock Performance

Shares of NASDAQ:NVAX opened at $5.99 on Friday. Novavax has a 1 year low of $5.01 and a 1 year high of $23.86. The stock has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $8.02. The stock has a market capitalization of $963.46 million, a P/E ratio of -2.65, a PEG ratio of 2.85 and a beta of 3.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NVAX shares. BTIG Research began coverage on shares of Novavax in a research report on Friday, February 28th. They issued a “buy” rating and a $19.00 price target for the company. TD Cowen raised Novavax to a “hold” rating in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on Novavax from $9.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.71.

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.