Novavax (NVAX) Dips More Than Broader Market: What You Should Know
Novavax (NVAX) closed at $14.42 in the latest trading session, marking a -1.77% move from the prior day. This change lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.04%.
Shares of the vaccine maker have appreciated by 23.67% over the course of the past month, outperforming the Medical sector's loss of 3.8% and the S&P 500's gain of 1.25%.
The investment community will be paying close attention to the earnings performance of Novavax in its upcoming release. The company is forecasted to report an EPS of -$0.91, showcasing a 27.78% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $52.32 million, down 72.02% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.04 per share and revenue of $739.47 million, which would represent changes of +80.78% and -24.83%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Novavax. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Novavax holds 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 75, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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 Report