In the latest close session, Novavax (NVAX) was down 1.66% at $8.88. The stock trailed the S&P 500, which registered a daily gain of 0.5%. Elsewhere, the Dow gained 0.7%, while the tech-heavy Nasdaq added 0.31%.
The vaccine maker's stock has dropped by 3.42% in the past month, falling short of the Medical sector's gain of 5.49% and the S&P 500's loss of 0.23%.
Analysts and investors alike will be keeping a close eye on 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 $49.81 million, indicating a 79.18% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.19 per share and a revenue of $371.85 million, indicating changes of -107.36% and -66.9%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Novavax. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has shifted 6.72% upward. 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 147, this industry ranks in the bottom 40% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Novavax, Inc. (NVAX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).