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Based in Cambridge, Massachusetts, Moderna, Inc. (MRNA) is a pioneering biotechnology company and a global leader in mRNA therapeutics and vaccines. With a market cap of $51.07 billion, Moderna has revolutionized the pharmaceutical industry by leveraging its innovative mRNA technology to develop treatments for a wide range of diseases. As a major player in the biotech industry, Moderna competes fiercely with companies like Pfizer Inc. (PFE), which is known for its extensive pharmaceutical and vaccine portfolios.
Companies valued at $10 billion or more are generally considered "large-caps," and Moderna fits this criterion perfectly, signifying its substantial size, stability, and influence in the biotechnology industry. Renowned for its groundbreaking mRNA technology and swift development of the COVID-19 vaccine, MRNA is at the forefront of biopharmaceutical innovation.
MRNA shares are trading 21.8% below their 52-week high of $170.47, which they hit on May 24. However, MRNA has gained 27.8% over the past three months, outperforming the S&P 500 Index’s ($SPX) 6.6% returns over the same time frame.
Longer term, MRNA is up 34% on a YTD basis, and the shares have gained 3.5% over the past 52 weeks. In comparison, the S&P 500 has gained 15% in 2024 and 24.4% over the past year.
To confirm the bullish price trend, MRNA has been trading above its 200-day and 50-day moving average since early March.
Moderna shares surged over 7% on May 2 following the release of its Q1 results. The company's Q1 loss per share was $3.07, narrower than the Street estimate of $3.59. Additionally, Moderna reported revenue of $167 million, exceeding analyst expectations of $124.7 million.
Highlighting the contrast in performance, MRNA's competitor, PFE, has underperformed MRNA and SPX, with a 4.8% decline on a YTD basis.
Given MRNA's recent outperformance compared to SPX, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from 21 analysts in coverage. The mean price target of $140.31 reflects a 5.3% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
