In the latest trading session, Novavax (NVAX) closed at $9.13, marking a -3.89% move from the previous day. This change lagged the S&P 500's 1.09% gain on the day. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Prior to today's trading, shares of the vaccine maker had gained 2.48% lagged the Medical sector's gain of 3.16% and outpaced the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of Novavax in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.36, reflecting a 158.06% decrease from the same quarter last 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $371.85 million, which would represent changes of -107.36% and -66.9%, respectively, from the prior year.
Any recent changes to analyst estimates for Novavax should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.72% increase. 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 153, this industry ranks in the bottom 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Novavax, Inc. (NVAX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).