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

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Novavax (NVAX - Free Report) closed the most recent trading day at $243.23, moving -0.76% from the previous trading session. This move lagged the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq lost 0.5%.

Prior to today's trading, shares of the vaccine maker had gained 118.84% over the past month. This has outpaced the Medical sector's loss of 2.5% and the S&P 500's gain of 1.1% in that time.

Wall Street will be looking for positivity from NVAX as it approaches its next earnings report date. This is expected to be March 1, 2021. In that report, analysts expect NVAX to post earnings of -$1.53 per share. This would mark a year-over-year decline of 35.4%. Our most recent consensus estimate is calling for quarterly revenue of $211.88 million, up 2302.23% from the year-ago period.

Investors should also note any recent changes to analyst estimates for NVAX. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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 41.16% higher. NVAX is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, NVAX is currently trading at a Forward P/E ratio of 11.15. For comparison, its industry has an average Forward P/E of 24.83, which means NVAX is trading at a discount to the group.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 198, which puts it in the bottom 23% 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.

To follow NVAX in the coming trading sessions, be sure to utilize Zacks.com.


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