Novavax (NVAX) ended the recent trading session at $7.25, demonstrating a +1.68% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. Elsewhere, the Dow saw an upswing of 1.23%, while the tech-heavy Nasdaq appreciated by 0.69%.
The vaccine maker's stock has climbed by 3.18% in the past month, exceeding the Medical sector's gain of 0.63% and the S&P 500's gain of 0.55%.
The investment community will be closely monitoring the performance of Novavax in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.66, reflecting a 29.41% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.41 million, down 11.21% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.94 per share and a revenue of $1.05 billion, representing changes of +257.72% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Novavax. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 36.92% increase. Novavax is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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