#3 - Moderna (NASDAQ:MRNA)
Moderna Inc. (NASDAQ: MRNA) was one of the companies that successfully brought a vaccine for COVID-19 to market in 2021. It’s impossible to understate what this meant to the company’s fortunes. Moderna went from being a clinical-stage biopharmaceutical company with revenue in the millions to generating over $7 billion in one quarter in 2022. Not surprisingly, that correlated with the mRNA stock price soaring to a record high of over $450 in 2022.
As revenue has normalized and earnings have turned negative, MRNA stock is back down to 2020 levels. However, the company recently received FDA approval for an RSV vaccine. It also has a combination Covid/influenza vaccine in late-stage trials. And the company is partnering with Merck & Co. Inc. (NYSE: MRK) on a potential cancer vaccine. All of those vaccines are further proof of the company’s mRNA technology, which will be critical in an upcoming area of customizable medicine.
Moderna stock is up 47% in 2024, and the analyst forecasts on MarketBeat have a consensus Hold rating on MRNA. However, the 5% pullback in early June could be the dip some investors have been waiting for.
About Moderna
Moderna, Inc, a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, influenza, and respiratory syncytial virus, spikevax, and hMPV/PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella zoster virus, and human immunodeficiency virus vaccines; public health vaccines consists of Zika, Nipah, Mpox vaccines; and infectious diseases vaccines, such as lyme and norovirus vaccines.
Read More - Current Price
- $36.85
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 14 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $90.22 (144.8% Upside)
