In the latest close session, Novavax (NVAX) was down 3.68% at $8.37. The stock fell short of the S&P 500, which registered a loss of 0.84% for the day. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq lost 1.43%.
The stock of vaccine maker has risen by 19.86% in the past month, leading the Medical sector's gain of 0.16% and the S&P 500's gain of 1.8%.
The investment community will be paying close attention to the earnings performance of Novavax in its upcoming release. The company is expected to report EPS of -$0.66, down 29.41% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $78.41 million, indicating a 11.21% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.94 per share and a revenue of $1.05 billion, signifying shifts of +257.72% and 0%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Novavax. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.93% higher. Novavax is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Novavax, Inc. (NVAX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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