Briefly –
- Novavax adds approximately 14% ahead of its Q2 results report.
- The firm has won multiple say-sos for its COVID vaccine.
- Analysts expect Novavax to announce higher earnings.
Novavax, Inc. isn’t the usual meme stock like AMC and GameStop. Nevertheless, NASDAQ: NVAX has attracted retail investor attention at the least of the updates. Things will unlikely be dissimilar when the firm publishes its financial results on 8 August.
Investor expectations stay elevated for Novavax. Zacks Investment Research predicts a $5.51 EPS during the quarter. Meanwhile, that means a massive increase from last year -4.75%. Indeed, market players expect the firm to record profits in 2022. That was visible in the Q1 when adjusted earnings emerged optimistic at $2.56.
Expectations of amplified earnings from Novavax in 2022 come amidst optimistic developments. The firm has secured authorizations for its 12 to 17-year-old COVID-19 vaccine in Australia and Japan. Also, the United States approved the vaccine by Novavax. The approvals come after manufacturing slipups of 2021 that made Novavax a straggler entrant.
The quarterly earnings will mean a test for the company as Novavax seeks to prove its worth among peers. The stock has surged approximately 14% within the past five days in expectations of optimistic earnings.
Novavax Pushes Beyond MA as Stock Soars
Technically, Novavax maintains bullishness. The stock pushes beyond the 21-day Moving Average after retesting the 50-day MA. The Moving Average Convergence Divergence line also crosses beyond the MA, confirming the bullish push. Steady Q2 results will see NVAX moving towards $86, translating to a 43% upside potential.
Also, beware of the latest shifts to analyst projections for Novavax. The latest revisions appear to highlight the evolving state of near-term business trends. Therefore, positive estimate revision indicates analyst optimism for the company’s profitability and business.
Experts use the Zacks Rank mode to estimate shifts and offer actionable ratings. Ranging from strong by #1 to strong sell #5, the Zacks Rank has an outside-audited, proven outperformance track record, with stock #1 returning over 25% yearly since 1998. Novavax currently has a #2 Zacks Rank, a buy.
Summary
Analysts expect Novavax to publish strong results after Monday’s market close. Market participants should watch the earnings for an opportunity to purchase and enjoy the upside ride to $86.
Editorial credit: Studio Roux / shutterstock.com
