Novavax (NVAX) Stock Sinks As Market Gains: What You Should Know
Novavax (NVAX) closed at $54.59 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's 1.61% gain on the day. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Prior to today's trading, shares of the vaccine maker had lost 29.79% over the past month. This has lagged the Medical sector's loss of 0.95% and the S&P 500's loss of 1.42% in that time.
Investors will be hoping for strength from Novavax as it approaches its next earnings release. On that day, Novavax is projected to report earnings of $3.30 per share, which would represent year-over-year growth of 208.2%. Our most recent consensus estimate is calling for quarterly revenue of $888.11 million, up 98.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $22.84 per share and revenue of $4.57 billion, which would represent changes of +197.44% and +298.65%, respectively, from the prior year.
Investors should also note any 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Novavax is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Novavax currently has a Forward P/E ratio of 2.42. This valuation marks a discount compared to its industry's average Forward P/E of 22.67.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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