Novavax (NVAX) Gains As Market Dips: What You Should Know
Novavax (NVAX) closed the most recent trading day at $110.15, moving +1.65% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.16%. At the same time, the Dow lost 1.84%, and the tech-heavy Nasdaq lost 0.13%.
Coming into today, shares of the vaccine maker had lost 24.29% in the past month. In that same time, the Medical sector lost 0.29%, while the S&P 500 lost 1.96%.
Wall Street will be looking for positivity from NVAX as it approaches its next earnings report date. On that day, NVAX is projected to report earnings of $2.36 per share, which would represent year-over-year growth of 329.13%. Our most recent consensus estimate is calling for quarterly revenue of $234.17 million, up 9229.32% from the year-ago period.
NVAX's full-year Zacks Consensus Estimates are calling for earnings of $7.29 per share and revenue of $706.66 million. These results would represent year-over-year changes of +232.3% and +3686.6%, respectively.
It is also important to note the recent changes to analyst estimates for NVAX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. NVAX currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that NVAX has a Forward P/E ratio of 14.86 right now. For comparison, its industry has an average Forward P/E of 25.01, which means NVAX is trading at a discount to the group.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 23% 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.
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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