Novavax (NVAX) closed at $7.31 in the latest trading session, marking a +1.39% move from the prior day. This change outpaced the S&P 500's 0.65% gain on the day. At the same time, the Dow added 0.94%, and the tech-heavy Nasdaq gained 0.9%.
Coming into today, shares of the vaccine maker had gained 80.7% in the past month. In that same time, the Medical sector gained 1.64%, while the S&P 500 gained 2.97%.
NVAX will be looking to display strength as it nears its next earnings release. On that day, NVAX is projected to report earnings of -$1.08 per share, which would represent year-over-year growth of 58.46%. Our most recent consensus estimate is calling for quarterly revenue of $3.99 million, down 34.89% from the year-ago period.
Any recent changes to analyst estimates for NVAX should also be noted by investors. 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.
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.
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 has moved 4.9% higher. NVAX is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 28% 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.