In the latest close session, Novavax (NVAX) was up +1.31% at $8.53. The stock outperformed the S&P 500, which registered a daily gain of 0.62%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the vaccine maker had lost 22.04% over the past month, lagging the Medical sector's loss of 3.18% and the S&P 500's gain of 0.8%.
The upcoming earnings release of Novavax will be of great interest to investors. On that day, Novavax is projected to report earnings of -$0.31 per share, which would represent a year-over-year decline of 110.58%. Meanwhile, the latest consensus estimate predicts the revenue to be $60.39 million, indicating a 90.94% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.03 per share and revenue of $382.13 million, which would represent changes of -101.16% and -65.99%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Novavax. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 74.68% rise in the Zacks Consensus EPS estimate. As of now, Novavax holds a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Novavax, Inc. (NVAX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).