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

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Novavax (NVAX) closed at $69.95 in the latest trading session, marking a +0.27% move from the prior day. This move outpaced the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.05%.

Prior to today's trading, shares of the vaccine maker had gained 80.21% over the past month. This has outpaced the Medical sector's gain of 2.19% and the S&P 500's loss of 1.89% in that time.

Wall Street will be looking for positivity from Novavax as it approaches its next earnings report date. The company is expected to report EPS of $5.51, up 216% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, up 249.64% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $27.23 per share and revenue of $4.42 billion, which would represent changes of +216.17% and +285.34%, respectively, from the prior year.

Investors should also note any 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.

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. Within the past 30 days, our consensus EPS projection has moved 10.32% higher. Novavax is currently a Zacks Rank #3 (Hold).

Looking at its valuation, Novavax is holding a Forward P/E ratio of 2.56. Its industry sports an average Forward P/E of 21.92, so we one might conclude that Novavax is trading at a discount comparatively.

Also, we should mention that NVAX has a PEG ratio of 0.07. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.22 as of yesterday's close.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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