Yahoo Finance Novavax (NVAX) Gains As Market Dips: What You Should Know
Novavax (NVAX) closed the most recent trading day at $61.93, moving +1.34% from the previous trading session. This change outpaced the S&P 500's 0.08% loss on the day. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 0.08%.
Coming into today, shares of the vaccine maker had lost 3.82% in the past month. In that same time, the Medical sector lost 1.71%, while the S&P 500 gained 8.78%.
Investors will be hoping for strength from Novavax as it approaches its next earnings release, which is expected to be August 8, 2022. The company is expected to report EPS of $5.51, up 216% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 249.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $27.23 per share and revenue of $4.25 billion. These totals would mark changes of +216.17% and +270.35%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Novavax. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Novavax currently has a Zacks Rank of #2 (Buy).
Investors should also note Novavax's current valuation metrics, including its Forward P/E ratio of 2.24. This represents a discount compared to its industry's average Forward P/E of 23.3.
It is also worth noting that NVAX currently has a PEG ratio of 0.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.46 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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