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Novavax (NVAX) closed the most recent trading day at $6.39, moving -0.31% from the previous trading session. This move lagged the S&P 500's daily loss of 0.17%. Meanwhile, the Dow experienced a drop of 0.39%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
Shares of the vaccine maker witnessed a loss of 23.51% over the previous month, trailing the performance of the Medical sector with its loss of 6.9% and the S&P 500's loss of 3.94%.
The investment community will be closely monitoring the performance of Novavax in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.19, reflecting a 118.1% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $72.27 million, down 23.01% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.75 per share and revenue of $536.58 million. These totals would mark changes of +160.98% and -21.34%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Novavax. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 580% higher. Right now, Novavax possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Novavax is at present trading with a Forward P/E ratio of 8.5. Its industry sports an average Forward P/E of 16.25, so one might conclude that Novavax is trading at a discount comparatively.
It is also worth noting that NVAX currently has a PEG ratio of 0.16. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.28.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 75, putting it in the top 31% of all 250+ industries.