Novavax (NVAX) Dips More Than Broader Markets: What You Should Know
Novavax (NVAX) closed at $127.43 in the latest trading session, marking a -1.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 0.87%.
Prior to today's trading, shares of the vaccine maker had lost 1.34% over the past month. This has lagged the Medical sector's gain of 3.28% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from NVAX as it approaches its next earnings report date. In that report, analysts expect NVAX to post earnings of -$1.81 per share. This would mark a year-over-year decline of 60.18%. Meanwhile, our latest consensus estimate is calling for revenue of $211.88 million, up 2302.23% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for NVAX. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NVAX is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, NVAX currently has a Forward P/E ratio of 7.36. This valuation marks a discount compared to its industry's average Forward P/E of 27.43.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 19% 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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