Novavax (NASDAQ:NVAX) Posts Earnings Results

Novavax (NASDAQ:NVAX) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.19, FiscalAI reports. Novavax had a negative return on equity of 673.17% and a net margin of 39.19%.The business had revenue of $118.90 million during the quarter, compared to analysts’ expectations of $78.32 million. During the same quarter in the prior year, the firm earned $2.93 earnings per share. The business’s revenue was down 79.0% compared to the same quarter last year.

Here are the key takeaways from Novavax’s conference call:

• Novavax accelerated partnering, announcing four new MTAs (including one with a top‑10 oncology company), expanding Pfizer and Sanofi collaborations, and highlighting that partners now have rights to explore >30 indications—management says these relationships could generate billions in upfronts, milestones and royalties.
• The company ended Q1 with $818 million in cash and receivables, added $80 million of non‑dilutive cash (including the $30 million Pfizer upfront) and says it has a cash runway into 2028 without assuming future partner payments, supporting its path to non‑GAAP profitability by 2028.
• Q1 revenue was $140 million (down 79% YoY due mainly to a prior‑year non‑cash APA recognition), but partner‑related supply sales and licensing/royalty revenue rose >100%; management reiterated its 2026 adjusted revenue framework of $230–$270 million and non‑GAAP R&D+SG&A guidance.
• R&D is prioritizing a multivalent C. difficile vaccine after encouraging preclinical antitoxin IgG, mucosal immunity and survival data; IND‑enabling repeat‑dose toxicity studies are underway with a target to enter the clinic as early as 2027.
• Novavax remains dependent on partner execution (Sanofi commercial rollout, tech‑transfer and milestone timing, and conversion of MTAs to licenses), and near‑term support for partners will keep H1 2026 expenses elevated, creating execution and timing risk for expected cash inflows.

Novavax Trading Up 15.6%

Novavax stock traded up $1.26 during mid-day trading on Wednesday, hitting $9.36. The company’s stock had a trading volume of 16,469,732 shares, compared to its average volume of 3,028,565. The firm has a market capitalization of $1.54 billion, a PE ratio of 3.88 and a beta of 2.37. Novavax has a 1 year low of $5.80 and a 1 year high of $11.97. The stock’s fifty day moving average is $9.06 and its two-hundred day moving average is $8.19.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings raised Novavax from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, March 12th. Wall Street Zen upgraded Novavax from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright upped their price target on Novavax from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, February 27th. B. Riley Financial restated a “buy” rating on shares of Novavax in a research report on Thursday, April 9th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Novavax in a research report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Novavax presently has a consensus rating of “Hold” and a consensus price target of $12.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Novavax in the third quarter worth approximately $33,000. Danske Bank A S purchased a new position in Novavax in the third quarter worth approximately $64,000. State of Wyoming purchased a new position in Novavax in the second quarter worth approximately $52,000. Scientech Research LLC purchased a new position in Novavax in the third quarter worth approximately $96,000. Finally, Dimensional Fund Advisors LP purchased a new position in Novavax in the fourth quarter worth approximately $75,000. 53.04% of the stock is currently owned by hedge funds and other institutional investors.

Key Novavax News

Here are the key news stories impacting Novavax this week:

• Positive Sentiment: Q1 results beat revenue and EPS expectations: Novavax reported a narrower-than-expected GAAP loss and revenue well above consensus, driven by milestone/license payments tied to vaccine deals — a core reason investors pushed the stock higher. Reuters: Novavax beats first-quarter revenue estimates
• Positive Sentiment: High-margin partnership activity: Novavax disclosed multiple new/expanded MTAs and a January non-exclusive Matrix‑M license with Pfizer and other pharma partners, which adds near-term milestone revenue and longer-term royalty potential. PR Newswire: Q1 results and partnership highlights
• Positive Sentiment: Supporting clinical/competitive data: Sanofi’s Phase 4 COMPARE study results (noted by Novavax) reinforce Nuvaxovid’s differentiated reactogenicity profile, which may support commercial positioning and partner interest. PR Newswire: Clinical/COMPARE study mention
• Neutral Sentiment: Analyst update: TD Cowen nudged its price target higher (from $8 to $9) but kept a “hold” rating — a modest endorsement but not a bullish upgrade. Benzinga: TD Cowen price target update
• Negative Sentiment: Lower company revenue framework vs. street consensus: Novavax reiterated a 2026 revenue framework ($230M–$270M per company) that is materially below consensus estimates (~$388M), and flagged a shift toward a net loss — a near-term headwind for outlook expectations. Company release: Q1 results and guidance slides
• Neutral Sentiment: Investor materials and call transcripts available: Full earnings transcript and slide deck show management emphasizing partnerships, manufacturing capacity, and upcoming clinical plans — useful for investors parsing durability of revenue streams. Fool: Q1 2026 earnings transcript

Novavax Company Profile

Novavax, Inc is a clinical-stage biotechnology company headquartered in Gaithersburg, Maryland, that specializes in the discovery, development and commercialization of next-generation vaccines to prevent serious infectious diseases. Founded in 1987, the company has built a platform based on recombinant nanoparticle technology and its proprietary Matrix-M™ adjuvant to enhance immune responses.

The company’s lead product is NVX-CoV2373, a protein-based vaccine designed to elicit a robust immune response against the SARS-CoV-2 virus.