Novavax (NVAX) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw Novavax (NVAX) ending at $12.80, denoting a -0.85% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.28%. Meanwhile, the Dow experienced a rise of 0.15%, and the technology-dominated Nasdaq saw an increase of 0.15%.
Coming into today, shares of the vaccine maker had gained 7.67% in the past month. In that same time, the Medical sector gained 0.38%, while the S&P 500 gained 2%.
The upcoming earnings release of Novavax will be of great interest to investors. The company's upcoming EPS is projected at -$0.91, signifying a 27.78% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $52.32 million, down 72.02% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.04 per share and a revenue of $739.47 million, representing changes of +80.78% and -24.83%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Novavax. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 51.1% fall in the Zacks Consensus EPS estimate. Novavax presently features 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 79, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Novavax, Inc. (NVAX) : Free Stock Analysis Report