Novavax (NVAX) closed at $8.90 in the latest trading session, marking a -1.17% move from the prior day. This change lagged the S&P 500's 0.1% loss on the day. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.43%.
The stock of vaccine maker has fallen by 13.96% in the past month, lagging the Medical sector's gain of 1.97% and the S&P 500's loss of 1.34%.
Investors will be eagerly watching for the performance of Novavax in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.36, marking a 158.06% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $50.04 million, indicating a 79.08% downward movement from the same quarter last year.
NVAX's full-year Zacks Consensus Estimates are calling for earnings of -$0.19 per share and revenue of $371.85 million. These results would represent year-over-year changes of -107.36% and -66.9%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Novavax. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Novavax is carrying a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 36% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NVAX in the coming trading sessions, be sure to utilize Zacks.com.
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Novavax, Inc. (NVAX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).