Novavax (NVAX) stock surged 5.07% in intraday trading on Wednesday, as investors reacted positively to analysts' predictions of a potential earnings beat for the company. The biotech firm's shares gained traction following a report highlighting its positive Earnings ESP (Expected Surprise Prediction) ahead of its upcoming financial release.
The Earnings ESP, a metric used by analysts to gauge the likelihood of an earnings surprise, currently stands at 2.33% for Novavax. This figure is derived from the difference between the Most Accurate Estimate of -$0.42 per share and the Zacks Consensus Estimate of -$0.43. A positive ESP suggests that analysts who have recently updated their estimates are more optimistic about the company's earnings potential.
Novavax is scheduled to report its earnings on May 9, 2025. The positive ESP, combined with the company's Zacks Rank #3 (Hold) status, has put NVAX on investors' watchlists as a stock that could potentially surprise on the upside when it releases its financial results. This optimistic outlook appears to be driving the current rally in Novavax's stock price, as market participants position themselves ahead of the earnings announcement.
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