Novavax (NVAX) ended the recent trading session at $9.35, demonstrating a -1.16% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 1.09%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the vaccine maker had gained 9.11% outpaced the Medical sector's gain of 7.8% and the S&P 500's gain of 1.64%.
The upcoming earnings release of Novavax will be of great interest to investors. The company is forecasted to report an EPS of -$0.36, showcasing a 158.06% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $50.04 million, down 79.08% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.19 per share and a revenue of $371.85 million, representing changes of -107.36% and -66.9%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Novavax. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Novavax holds a Zacks Rank of #1 (Strong Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 110, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Novavax, Inc. (NVAX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).