Novavax (NVAX) Soars 11.4%: Is Further Upside Left in the Stock?

Novavax NVAX shares soared 11.4% in the last trading session to close at $6.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 28.8% loss over the past four weeks.The rise in Novavax’s shares can be attributed to the stock price recovery after it fell for 8 consecutive sessions. Despite the FDA’s delay in approving the company’s protein-based COVID-19 vaccine, the upside in NVAX’s stock suggests that investors perceive a favorable decision from the agency.This vaccine maker is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of +59.1%. Revenues are expected to be $72.27 million, down 23% from the year-ago quarter.Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.For Novavax, the consensus EPS estimate for the quarter has been revised 7.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on NVAX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Novavax is part of the Zacks Medical - Biomedical and Genetics industry. Travere Therapeutics TVTX, another stock in the same industry, closed the last trading session 9.5% lower at $14.99. TVTX has returned -12.6% in the past month.Travere's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.54. Compared to the company's year-ago EPS, this represents a change of +69.3%. Travere currently boasts a Zacks Rank of #3 (Hold).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 Report Travere Therapeutics, Inc. (TVTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks