Brokerages Expect Advaxis, Inc. (ADXS) Will Post Quarterly Sales of $3.03 Million

Brokerages forecast that Advaxis, Inc. (NASDAQ:ADXS) will announce sales of $3.03 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Advaxis’ earnings, with estimates ranging from $3.00 million to $3.05 million. Advaxis reported sales of $3.79 million in the same quarter last year, which indicates a negative year-over-year growth rate of 20.1%. The firm is scheduled to announce its next quarterly earnings report on Friday, March 9th.

According to Zacks, analysts expect that Advaxis will report full year sales of $3.03 million for the current financial year, with estimates ranging from $12.21 million to $13.00 million. For the next fiscal year, analysts forecast that the company will post sales of $12.68 million per share, with estimates ranging from $12.27 million to $13.10 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Advaxis.

Advaxis (NASDAQ:ADXS) last issued its quarterly earnings results on Wednesday, December 20th. The biotechnology company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.02). Advaxis had a negative return on equity of 114.00% and a negative net margin of 776.63%. The business had revenue of $1.76 million during the quarter, compared to analysts’ expectations of $3.05 million.

Several brokerages have recently weighed in on ADXS. HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of Advaxis in a report on Wednesday, November 8th. Cantor Fitzgerald set a $19.00 price target on Advaxis and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, ValuEngine upgraded Advaxis from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd.

Shares of Advaxis (NASDAQ:ADXS) traded up $0.03 during midday trading on Friday, hitting $2.79. The stock had a trading volume of 694,591 shares, compared to its average volume of 895,942. Advaxis has a 12-month low of $2.43 and a 12-month high of $10.06. The stock has a market capitalization of $114.57, a P/E ratio of -1.21 and a beta of 0.70.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its holdings in Advaxis by 20.3% during the 2nd quarter. Voya Investment Management LLC now owns 17,612 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 2,975 shares during the period. PNC Financial Services Group Inc. increased its holdings in Advaxis by 18.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 26,000 shares of the biotechnology company’s stock worth $168,000 after purchasing an additional 4,000 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Advaxis by 10.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,431 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 2,969 shares during the period. Stonebridge Capital Management Inc. increased its holdings in Advaxis by 88.7% during the 3rd quarter. Stonebridge Capital Management Inc. now owns 42,650 shares of the biotechnology company’s stock worth $179,000 after purchasing an additional 20,045 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Advaxis by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 44,813 shares of the biotechnology company’s stock worth $290,000 after purchasing an additional 1,144 shares during the period. Institutional investors own 42.63% of the company’s stock.

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Advaxis Company Profile

Advaxis, Inc is a clinical-stage biotechnology company focused on the discovery, development and commercialization of Listeria monocytogenes (Lm)-Listeriolysin O (LLO) cancer immunotherapies. These immunotherapies are based on a platform technology that utilizes live attenuated Lm bioengineered to secrete antigen/adjuvant fusion proteins.

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Earnings History and Estimates for Advaxis (NASDAQ:ADXS)

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