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Novavax (NVAX) Moves 19.2% Higher: Will This Strength Last?
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Novavax (NVAX - Free Report) shares soared 19.2% in the last trading session to close at $14.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.8% loss over the past four weeks.
Last month, the FDA granted emergency use authorization to an updated version of the company’s protein-based COVID-19 vaccine for individuals aged 12 years and older. The vaccine has been designed to target the JN.1 strain. Following this nod, Novavax’s updated vaccine became the only non-mRNA vaccine option available to people in the United States. This might have driven the share price rally.
This vaccine maker is expected to post quarterly loss of $0.91 per share in its upcoming report, which represents a year-over-year change of +27.8%. Revenues are expected to be $52.32 million, down 72% 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Pharming Group N.V. Sponsored ADR (PHAR - Free Report) , closed the last trading session 5.7% lower at $8.10. Over the past month, PHAR has returned 13.1%.
For Pharming Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. This represents a change of -80% from what the company reported a year ago. Pharming Group currently has a Zacks Rank of #3 (Hold).
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Novavax (NVAX) Moves 19.2% Higher: Will This Strength Last?
Novavax (NVAX - Free Report) shares soared 19.2% in the last trading session to close at $14.68. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.8% loss over the past four weeks.
Last month, the FDA granted emergency use authorization to an updated version of the company’s protein-based COVID-19 vaccine for individuals aged 12 years and older. The vaccine has been designed to target the JN.1 strain. Following this nod, Novavax’s updated vaccine became the only non-mRNA vaccine option available to people in the United States. This might have driven the share price rally.
This vaccine maker is expected to post quarterly loss of $0.91 per share in its upcoming report, which represents a year-over-year change of +27.8%. Revenues are expected to be $52.32 million, down 72% 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Pharming Group N.V. Sponsored ADR (PHAR - Free Report) , closed the last trading session 5.7% lower at $8.10. Over the past month, PHAR has returned 13.1%.
For Pharming Group, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.01. This represents a change of -80% from what the company reported a year ago. Pharming Group currently has a Zacks Rank of #3 (Hold).