Vaccine biotechnology company Novavax (NASDAQ: NVAX) will be reporting results this Thursday before the bell. Here’s what you need to know.
Novavax beat analysts’ revenue expectations last quarter, reporting revenues of $139.5 million, down 79.1% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Novavax a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Novavax’s revenue to decline 77.5% year on year, a further deceleration from the 42.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Novavax rarely misses Wall Street’s revenue estimates.
Looking at Novavax’s peers in the therapeutics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 12.1%, and Amgen reported revenues up 9.5%, topping estimates by 6.9%. Biogen traded up 1.1% following the results.
Read our full analysis of Biogen’s results here and Amgen’s results here.
Investors in the therapeutics segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Novavax is down 17.8% during the same time and is heading into earnings with an average analyst price target of $14.11 (compared to the current share price of $7.69).
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