In the latest trading session, Novavax (NVAX) closed at $9.42, marking a +1.29% move from the previous day. This move outpaced the S&P 500's daily gain of 0.86%. Meanwhile, the Dow experienced a rise of 0.98%, and the technology-dominated Nasdaq saw an increase of 0.96%.
Shares of the vaccine maker have appreciated by 14.25% over the course of the past month, outperforming the Medical sector's loss of 2.34%, and the S&P 500's loss of 1.96%.
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 -$0.22, reflecting a 64.52% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.96 million, down 39.01% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.47 per share and a revenue of $357.88 million, signifying shifts of -118.22% and -68.15%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Novavax. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 10.12% lower. At present, Novavax boasts a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 167, positioning it in the bottom 33% 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.
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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