Novavax (NVAX) Soars 7.0%: Is Further Upside Left in the Stock?

Novavax NVAX shares ended the last trading session 7% higher at $10. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.4% gain over the past four weeks.

Novavax is seeing its shares move higher as investors focus on its partnership-led model for commercializing its COVID-19 vaccine and Matrix-M technology. The company recently secured FDA approval for its updated Nuvaxovid formulation for the 2026–27 vaccination season, reinforcing the commercial relevance of its vaccine platform and licensing strategy.

This vaccine maker is expected to post quarterly loss of $0.37 per share in its upcoming report, which represents a year-over-year change of +40.3%. Revenues are expected to be $42.96 million, down 39% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Novavax, the consensus EPS estimate for the quarter has been revised 208.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NVAX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Novavax is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, NeoGenomics NEO, finished the last trading session 5% higher at $19.89. NEO has returned 13.7% over the past month.

NeoGenomics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.06. Compared to the company's year-ago EPS, this represents a change of +100%. NeoGenomics currently boasts a Zacks Rank of #2 (Buy).

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This article originally published on Zacks Investment Research (zacks.com).

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