Cambridge, Massachusetts-based Moderna, Inc. (MRNA) is a biotechnology company that provides messenger RNA medicines. Valued at a market cap of $18.4 billion, the company is best known for its global impact during the COVID-19 pandemic with its vaccine, Spikevax, and has since expanded its commercial portfolio with various other vaccines and medicines.
This biotechnology company has notably outperformed the broader market over the past 52 weeks. Shares of Moderna have rallied 99.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 28.5%. Moreover, on a YTD basis, the stock is up 65.5%, compared to SPX’s 6% rise.
Zooming in further, MRNA has also considerably outpaced the iShares Biotechnology ETF’s (IBB) 46.6% rise over the past 52 weeks and 3% uptick on a YTD basis.
On May 1, MRNA shares plunged 1.2% after its Q1 earnings release, despite delivering better-than-expected performance. The company’s revenue surged 260% year-over-year to $389 million, driven primarily by the fulfillment of large international contracts, including a strategic partnership in the United Kingdom. Additionally, the company posted a loss of $3.40 per share, notably above analysts’ expectations. However, investor sentiment remained weak due to the impact of a substantial litigation settlement and continued operating losses. While Moderna highlighted strong cost discipline, with adjusted cash costs falling 26% year-over-year, the litigation-related charge significantly pressured bottom-line performance.
For the current fiscal year, ending in December, analysts expect MRNA’s loss per share to increase by 9.5% year over year to $7.95. The company’s earnings surprise history is promising. It topped the consensus estimates in each of the last four quarters.
Among the 23 analysts covering the stock, the consensus rating is a “Hold,” which is based on two “Strong Buy,” 18 “Hold,” one "Moderate Sell,” and two "Strong Sell” ratings.
The configuration has remained fairly stable over the past three months.
On May 4, UBS maintained a “Neutral” rating on MRNA and raised its price target to $45.
While the company is trading above its mean price target of $46.85, its Street-high price target of $135 suggests a promising 176.7% potential upside from the current price levels.
On the date of publication, Neharika Jain 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.
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