For the second quarter of 2026, analysts expect Novavax to report a consensus revenue of $52.06 million and an EPS loss of $0.38, with shares currently trading at $7.46 against an average price target of $13.00.
Investors are primarily focused on the company’s strategic pivot from direct COVID-19 vaccine sales toward a higher-margin licensing and royalty-based model. This transition is anchored by significant partnerships with Sanofi and Pfizer for its Matrix-M adjuvant technology, which are intended to offset the sharp year-over-year decline in product sales. Shareholders will also evaluate the company's cash position and the execution of its lean operating framework as it attempts to achieve long-term sustainability.