Novavax Inc. (NVAX) Stock - Can it Remake Pandemic Era Surge

Novavax is working on a product combining Flu and Corona vaccines.
Rival Moderna is far behind in the development stage for a similar medicine.

Novavax Inc. was one among a handful of global vaccine providers during the pandemic. Its stock surged by 2,700% in 2020. Can they bounce back? Founded in 1987, and headquartered in Gaithersburg, Maryland, United States. It is a biotechnology company that discovers, develops, and commercializes recombinant vaccines.

During the peak of the pandemic in 2020, the company developed and managed to get approval for the NVX-CoV2373 vaccine for Covid-19. They became the fifth vaccine provider after Pfizer, Moderna, Janssen and AstraZeneca. European Union approved Nuvaxovid by the end of 2021; Canada approved the vaccine in February 2022.

Novavax Inc. Trying to Recreate the Covid-19-Like Performance

During the pandemic, NVAX stocks swelled by a huge margin. The reason cited was the release of the coronavirus vaccine, Nuvaxovid. Novavax is looking for revenue generation in the post-pandemic world.

Annual flu booster shots could be the next Covi-19 like opporutnity for Novavax. They are reportedly developing a product that combines the flu and coronavirus vaccine components – a combination shot. Although Moderna works on a similar module, Novavax’s program is ahead in terms of development and could be out soon.

If the biotech company doesn’t miss like last time and brings it before everyone else, they could grab the lion’s share in the market.

But something is not going their way. Last earnings report might have struck fears of shutdown. However, that is mainly due to market uncertainties, like the US funding agreement, that may not be a full payment.

Novavax Inc. (NVAX) – The Number Game

When writing, NVAX was trading at $5.95 with a drop of 0.34%; previous close and open were at $5.97 and $5.95, respectively. The fifty-two-week change has been a drop of 92.43%. With a market cap of $512.731 million, the average share volume was 7 million shares. The analysts’ rating is 2.00 for HOLD, and the target price is $70.67 with a whopping 1,182.1% upside.

As on December 2022, Novavax revenue was $357.40 million and has now jumped by 60.85%. Similarly, operating expenses gained 91.97% from $161.66 million. Net income gained 78.46% from negative $182.25, while net profit margin jumped by 86.61% from negative $50.99. EPS then was negative $2.28 and jumped by 79.61%.

The last earnings were reported on February 28, 2023, where the estimated revenue was $383.143 million, and the reported revenue was $357.399 million. The surprise was negative $25.744 million, a drop of 6.72%. The next earnings are reportedly scheduled for May 8, 2023, with revenue estimated at $139.027 million.

Novavax Inc. (NVAX) – Candle Exploration

The current rate is at its lowest point, where the $5.00 mark supposedly works as a strong support. A downward-slopping line and a range below the moving average give a negative sentiment.

The price might bounce back from S1, and if it crosses the trendline, it might go up to R1. However, considering current market sentiments, a clean R1 and R2 breakthrough is a long shot.

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing