Novavax (NVAX) Moves 11.9% Higher: Will This Strength Last?

Core Viewpoint - Novavax's stock experienced a significant increase of 11.9% to close at $8.67, driven by strong trading volume and positive sentiment from analysts [1][2]. Group 1: Stock Performance - Novavax shares gained 11.9% in the last trading session, with a total price of $8.67, and have seen a 17.8% increase over the past four weeks [1]. - The stock's recent surge is attributed to Cantor Fitzgerald's reiteration of an Overweight rating with a price target of $18, indicating potential for more than double the current price [2]. Group 2: Financial Expectations - Novavax is expected to report a quarterly loss of $0.66 per share, reflecting a year-over-year decline of 29.4%, with revenues projected at $78.41 million, down 11.2% from the previous year [3]. - The consensus EPS estimate for Novavax has remained unchanged over the last 30 days, suggesting that stock price movements may be limited without changes in earnings estimates [4]. Group 3: Industry Context - Novavax operates within the Zacks Medical - Biomedical and Genetics industry, where Ocugen also competes, having closed 7.3% higher at $1.91, with a 29% return over the past month [4]. - Ocugen's consensus EPS estimate has remained unchanged at -$0.06, representing a 20% decline compared to the previous year [5].