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Home»Finance»NVAX Stock: Here’s What To Expect When Covid Shot-Maker Novavax Reports
Finance

NVAX Stock: Here’s What To Expect When Covid Shot-Maker Novavax Reports

February 28, 2023No Comments2 Mins Read
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Novavax (NVAX) is expected late Tuesday to report diminishing losses and double-digit sales growth for the fourth quarter. Ahead of the report, NVAX stock surged.




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The company makes a Covid vaccine called Nuvaxovid. In the U.S., it’s allowed for people age 12 and older as a primary series of shots. The Food and Drug Administration also authorized Nuvaxovid as a booster for adults.

Novavax’s fourth-quarter results should offer a clear picture on the future for U.S. vaccinations. Pfizer’s and Moderna’s Covid shots eked out small sales gains in 2022, though sales are expected to drop off this year. But it’s important to note Novavax uses a different means of vaccinating patients. While the Pfizer and Moderna shots rely on messenger RNA platforms, Novavax’s shot is DNA-based.

In early trading on the stock market today, NVAX stock jumped 4.8% near 9.10.

NVAX Stock: Losses Expected To Narrow

Analysts polled by FactSet expect Novavax to report a per-share loss of $1.01, narrowing from an $11.18 per-share loss in the year-earlier period. They also call for $383 million in sales, climbing nearly 73% year over year.

The company’s outlook also is key. NVAX stock analysts project losses of $4.99 per share in 2023, slimming down from an estimated $7.16 per-share loss for 2022. But they also expect sales to decline this year, hitting $1.26 billion vs. projections for $2.01 billion for 2022.

That would be in line with Pfizer’s and Moderna’s expectations. Both companies predict sales of their Covid shots will decline in 2023. Vaccinations are slowing and the public health emergency in the U.S. is now slated to end in May.

See also  DraftKings Stock Jumps On Strong Q1 Earnings Results; Is DKNG Stock A Buy Right Now?

Meanwhile, NVAX stock has a worst-possible Relative Strength Rating of 1. This puts shares in the lowest 1% of all stocks when it comes to 12-month performance, according to IBD Digital.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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Covid expect Heres Novavax NVAX reports ShotMaker stock
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