Novavax (NVAX) closed at $8.97 in the latest trading session, marking a +2.51% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, lost 0.16%.
Heading into today, shares of the vaccine maker had gained 0.92% over the past month, outpacing the Medical sector's loss of 1.31% and the S&P 500's loss of 0.28%.
The investment community will be paying close attention to the earnings performance of Novavax in its upcoming release. It is anticipated that the company will report an EPS of -$0.66, marking a 29.41% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $78.41 million, indicating a 11.21% decrease compared to the same quarter of the previous year.
NVAX's full-year Zacks Consensus Estimates are calling for earnings of $1.94 per share and revenue of $1.05 billion. These results would represent year-over-year changes of +257.72% and +54.62%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Novavax. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.04% increase. 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 bearing a Zacks Industry Rank of 84, finds itself in the top 35% echelons 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.
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Novavax, Inc. (NVAX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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