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Novavax (NVAX) Soars 5.4%: Is Further Upside Left in the Stock?
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Novavax (NVAX - Free Report) shares rallied 5.4% in the last trading session to close at $54.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 37.1% gain over the past four weeks.
This rise was most likely attributable to the recovery of the share price of Novavax after suddenly declining 26.2% on Jul 14 following the issue of a safety report by the European Medicines Agency’s (EMA) Pharmacovigilance Risk Assessment Committee (“PRAC”). The PRAC updated the product label of Nuvaxovid, the company’s COVID-19 vaccine, to include some potential side effects like severe allergic reactions and skin problems.
This vaccine maker is expected to post quarterly earnings of $5.51 per share in its upcoming report, which represents a year-over-year change of +216%. Revenues are expected to be $1.04 billion, up 249.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Novavax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVAX going forward to see if this recent jump can turn into more strength down the road.
Novavax is part of the Zacks Medical - Biomedical and Genetics industry. Protagonist Therapeutics (PTGX - Free Report) , another stock in the same industry, closed the last trading session 3.7% higher at $9.46. PTGX has returned 23.2% in the past month.
Protagonist Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.99. Compared to the company's year-ago EPS, this represents a change of -43.5%. Protagonist Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Novavax (NVAX) Soars 5.4%: Is Further Upside Left in the Stock?
Novavax (NVAX - Free Report) shares rallied 5.4% in the last trading session to close at $54.43. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 37.1% gain over the past four weeks.
This rise was most likely attributable to the recovery of the share price of Novavax after suddenly declining 26.2% on Jul 14 following the issue of a safety report by the European Medicines Agency’s (EMA) Pharmacovigilance Risk Assessment Committee (“PRAC”). The PRAC updated the product label of Nuvaxovid, the company’s COVID-19 vaccine, to include some potential side effects like severe allergic reactions and skin problems.
This vaccine maker is expected to post quarterly earnings of $5.51 per share in its upcoming report, which represents a year-over-year change of +216%. Revenues are expected to be $1.04 billion, up 249.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Novavax, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVAX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Novavax is part of the Zacks Medical - Biomedical and Genetics industry. Protagonist Therapeutics (PTGX - Free Report) , another stock in the same industry, closed the last trading session 3.7% higher at $9.46. PTGX has returned 23.2% in the past month.
Protagonist Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.99. Compared to the company's year-ago EPS, this represents a change of -43.5%. Protagonist Therapeutics currently boasts a Zacks Rank of #3 (Hold).