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Based in Cambridge, Massachusetts, Moderna, Inc. (MRNA) is a leading biotechnology company that develops messenger RNA (mRNA) therapeutics and vaccines. It is renowned for its innovative mRNA technology platform, which was pivotal in the rapid development and distribution of its COVID-19 vaccine. With a market cap of $47.54 billion, Moderna is recognized for its groundbreaking research, commitment to addressing global health challenges, and efforts to develop a broad pipeline of mRNA-based treatments for various diseases. Moderna is scheduled to announce its fiscal Q2 earnings results before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect MRNA to report a loss of $3.47 per share, 4.1% narrower compared to the loss of $3.62 per share in the same quarter last year. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Moderna's adjusted loss of $3.07 per share for the last quarter surpassed the consensus estimate by 14.5%. Effective cost discipline supported the quarterly performance.
For fiscal 2024, analysts expect MRNA to report a loss per share of $7.46, narrower by 39.5% from a loss per share of $12.33 in fiscal 2023.
MRNA stock is up 24.7% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 17.2% gains and the VanEck Biotech ETF’s (BBH) 7.8% returns over the same time frame.
Moderna and Mitsubishi Tanabe Pharma Corporation entered a joint agreement to co-promote Moderna's mRNA respiratory vaccine portfolio, including the COVID-19 vaccine Spikevax®, in Japan until March 31, 2029.
Moderna shares surged over 7% on May 2 following the release of its Q1 results. Revenue for the period was $167 million, exceeding analysts' forecasts of $124.7 million.
The consensus opinion on MRNA stock is optimistic, with an overall “Moderate Buy” rating. Out of 21 analysts covering the stock, eight advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, 10 suggest a “Hold,” and two recommend “Moderate Sell.” MRNA's average analyst price target is $141.04, indicating a potential upside of 13.7% from the 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.
