Novavax (NVAX) closed at $8.84 in the latest trading session, marking a +2.31% move from the prior day. This change outpaced the S&P 500's 1.2% gain on the day. Meanwhile, the Dow gained 1.79%, and the Nasdaq, a tech-heavy index, added 1.52%.
The stock of vaccine maker has fallen by 11.29% in the past month, lagging the Medical sector's loss of 2.77% and the S&P 500's gain of 5.15%.
The upcoming earnings release of Novavax will be of great interest to investors. The company is expected to report EPS of -$0.3, down 110.24% from the prior-year quarter. 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 annual period, the Zacks Consensus Estimates anticipate earnings of -$0.05 per share and a revenue of $378.8 million, signifying shifts of -101.94% and -66.28%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Novavax. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, the Zacks Consensus EPS estimate has moved 54.43% higher. Novavax currently has 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 91, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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).