In the latest close session, Novavax (NVAX) was down 1.97% at $9.71. This change lagged the S&P 500's 0.55% gain on the day. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 0.91%.
Shares of the vaccine maker have appreciated by 42.65% over the course of the past month, outperforming the Medical sector's gain of 0.19%, and the S&P 500's gain of 0.71%.
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 -$0.66, reflecting a 29.41% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $78.41 million, down 11.21% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.94 per share and revenue of $1.05 billion, indicating changes of +257.72% and 0%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Novavax. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 7.93% increase. Novavax is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 36% of all industries, numbering over 250.
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.
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Novavax, Inc. (NVAX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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