Novavax (NVAX) Falls More Steeply Than Broader Market: What Investors Need to Know

In the latest close session, Novavax (NVAX) was down 4.18% at $8.95. This change lagged the S&P 500's daily loss of 1.74%. Elsewhere, the Dow saw a downswing of 1.01%, while the tech-heavy Nasdaq depreciated by 2.38%.

The vaccine maker's stock has dropped by 1.99% in the past month, exceeding the Medical sector's loss of 7.17% and the S&P 500's loss of 4.99%.

The investment community will be closely monitoring the performance of Novavax in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.31, signifying a 110.58% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $60.39 million, showing a 90.94% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.03 per share and revenue of $382.13 million, which would represent changes of -101.16% and -65.99%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Novavax. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 85.43% higher. Right now, Novavax possesses a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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Novavax, Inc. (NVAX): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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