Published on 5 Mar 2023 on Simply Wall St. via Yahoo Finance

Newsflash: Novavax, Inc. (NASDAQ:NVAX) Analysts Have Been Trimming Their Revenue Forecasts

Today is shaping up negative for Novavax, Inc. (NASDAQ:NVAX) shareholders, with the analysts delivering a substantial negative revision to this year's forecasts. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative.

Following the downgrade, the consensus from five analysts covering Novavax is for revenues of US$898m in 2023, implying a concerning 55% decline in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 28% to US$5.51. Yet before this consensus update, the analysts had been forecasting revenues of US$1.2b and losses of US$5.51 per share in 2023. So there's definitely been a change in sentiment in this update, with the analysts administering a substantial haircut to this year's revenue estimates, while at the same time holding losses per share steady.