Novavax (NVAX) Stock Down on Earnings Miss

Novavax (NVAX) stock is declining after the clinical-state vaccine company's 2015 third quarter earnings missed expectations.
By Amanda Albright ,

NEW YORK (TheStreet) -- Novavax (NVAX) - Get Report stock is falling by 7.56% to $7.39 in mid-morning trading on Monday, after the company's 2015 third quarter earnings results missed analysts' expectations.  

The Rockville, MD-based company, which specializes in clinical-trial vaccines, reported a loss of 12 cents per share for the most recent quarter.

Revenue decreased to $6.52 million, down from $8.2 million for the year-ago period.

Analysts were expecting the company to report a loss of 9 cents per share on revenue of $10.10 million.

Additionally, Novavax announced the start of Phase 3 trials for its RSV F Vaccine, which could be used to treat lower-respiratory tract diseases. 

"During the third quarter, we delivered positive results from five key clinical programs," CEO Stanley Erck said in a statement. "These results, coupled with today's initiation of our Phase 3 trial of our RSV F Vaccine in older adults, demonstrate Novavax' ability to successfully advance our clinical stage programs along aggressive timelines."

Separately, TheStreet Ratings team rates NOVAVAX INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate NOVAVAX INC (NVAX) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, feeble growth in its earnings per share and weak operating cash flow.

You can view the full analysis from the report here: NVAX

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