Novavax (NVAX) closed the most recent trading day at $9.22, moving -6.07% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.01%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq increased by 0.17%.
Shares of the vaccine maker witnessed a gain of 46.13% over the previous month, beating the performance of the Medical sector with its loss of 1.67%, and the S&P 500's gain of 0.78%.
The investment community will be closely monitoring the performance of Novavax in its forthcoming earnings report. The company is expected to report EPS of -$0.66, down 29.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $78.41 million, down 11.21% from the prior-year quarter.
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.
Investors should also pay attention to any latest changes in analyst estimates for Novavax. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 7.93% rise in the Zacks Consensus EPS estimate. Novavax currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 94, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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