Novavax Inc. (NASDAQ:NVAX) shares are up on Thursday following the company’s announcement of its fourth-quarter and full-year 2025 financial results.
Earnings
Novavax reported fourth-quarter earnings of 11 cents, a shift from a loss of 51 cents a year ago. evenue for the fourth quarter was $147 million, a 67% year-over-year increase.
Novavax on Thursday said it beat its 2025 cost-cutting targets across both GAAP and Non-GAAP R&D and SG&A spending and is tightening future expense goals.
The company now expects Non-GAAP R&D and SG&A expenses (net of R&D reimbursements) of $325 million in 2026, $225 million in 2027, and $200 million or less in 2028 (newly introduced target).
Management Commentary
“In 2025, we made significant progress on our corporate strategy, marked with the successful achievement of key milestones under our Sanofi agreement, progress towards potential new partnerships, in the form of multiple MTAs signed with other parties enabling experimentation with our Matrix-M adjuvant technology and the advancement of our own R&D efforts,” said John Jacobs, President and CEO, Novavax.
“With a strong start to 2026, including the recently announced Pfizer Matrix-M agreement, we look forward to commercial and clinical development execution from our partners, advancing our R&D efforts and the potential for more partnerships as we drive vaccine innovation and value creation from our technology,” Jacobs commented on Thursday.
Guidance
Novavax highlighted a revenue forecast for 2026, projecting adjusted total revenue between $230 million and $270 million compared to the consensus of $381.22 million.
The company expects to achieve $35 million to $45 million in Nuvaxovid product sales and $40 million to $50 million in adjusted supply sales, reflecting ongoing collaborations with partners like the Serum Institute.
Technical Analysis
Currently, the stock is trading 8.4% above its 20-day simple moving average (SMA) and 9.2% above its 100-day SMA, indicating short-term strength. Over the past 12 months, shares have increased significantly and are currently positioned closer to their 52-week highs than lows, reflecting a strong upward trend.
The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is not available, but the absence of significant crossovers indicates a stable trend without immediate bullish or bearish pressure.
The combination of neutral RSI and the absence of a MACD signal suggests mixed momentum, indicating that traders should watch for potential breakout or reversal signals in the near term.
- Key Resistance: $12.00
- Key Support: $10.50
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $32.23. Recent analyst moves include:
- BTIG: Buy (Maintains Target to $19.00) (Jan. 20)
- JP Morgan: Underweight (Lowers Target to $6.00) (Nov. 18, 2025)
- B. Riley Securities: Buy (Lowers Target to $16.00) (Nov. 10, 2025)
NVAX Price Action: Novavax shares were up 21.15% at $11.55 at the time of publication on Thursday, according to Benzinga Pro data.
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