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Novavax (NVAX) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Novavax (NVAX - Free Report) closed at $10.98, marking a -1.17% move from the previous day. This change lagged the S&P 500's 1.1% gain on the day. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.

Coming into today, shares of the vaccine maker had gained 22.63% in the past month. In that same time, the Medical sector lost 0.71%, while the S&P 500 gained 4.58%.

Novavax will be looking to display strength as it nears its next earnings release. In that report, analysts expect Novavax to post earnings of -$1.27 per share. This would mark year-over-year growth of 88.64%. Meanwhile, our latest consensus estimate is calling for revenue of $377.64 million, up 69.95% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Novavax. These revisions help to show the ever-changing nature of near-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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.81% higher. 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 88, which puts it in the top 35% 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.

To follow NVAX in the coming trading sessions, be sure to utilize Zacks.com.


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