Novavax (NVAX – Free Report) closed at $7.91 in the latest trading session, marking a -0.57% move from the prior day. The stock’s change was less than the S&P 500’s daily gain of 1.08%. On the other hand, the Dow registered a gain of 0.92%, and the technology-centric Nasdaq increased by 1.41%.
Shares of the vaccine maker have depreciated by 3.64% over the course of the past month, underperforming the Medical sector’s gain of 0.21% and outperforming the S&P 500’s loss of 8.26%.
Market participants will be closely following the financial results of Novavax in its upcoming release. The company is forecasted to report an EPS of -$0.49, showcasing a 53.33% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $65.17 million, indicating a 30.56% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $526.62 million, indicating changes of +86.99% and -22.8%, respectively, from the former 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 such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 296.43% decrease. Novavax currently has a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 30% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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