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Novavax (NVAX) Dips More Than Broader Markets: What You Should Know

Novavax (NVAX) closed the most recent trading day at $11.09, moving -1.25% from the previous trading session. This change lagged the S&P 500's 0.61% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.67%.

Heading into today, shares of the vaccine maker had gained 1.91% over the past month, outpacing the Medical sector's loss of 0.22% and lagging the S&P 500's gain of 8.32% in that time.

Investors will be hoping for strength from Novavax as it approaches its next earnings release. The company is expected to report EPS of -$1.27, up 88.64% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $377.64 million, up 69.95% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Novavax. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. The Zacks Consensus EPS estimate has moved 2.33% higher within the past month. Novavax is holding a Zacks Rank of #3 (Hold) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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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Novavax, Inc. (NVAX) : Free Stock Analysis Report

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