Novavax (NVAX) Increases Despite Market Slip: Here's What You Need to Know

The most recent trading session ended with Novavax (NVAX) standing at $9.34, reflecting a +1.3% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 1.46%. Elsewhere, the Dow saw an upswing of 0.65%, while the tech-heavy Nasdaq depreciated by 3.07%.The the stock of vaccine maker has risen by 11.35% in the past month, leading the Medical sector's gain of 1.84% and the S&P 500's gain of 1.08%.Investors will be eagerly watching for the performance of Novavax in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.67, indicating a 53.47% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $90.72 million, down 68.86% from the prior-year quarter.It is also important to note the recent changes to analyst estimates for Novavax. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 87.5% higher within the past month. Novavax is currently a Zacks Rank #2 (Buy).The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 70, this industry ranks in the top 28% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novavax, Inc. (NVAX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks