Moderna (NASDAQ:MRNA) Price Target Cut to $32.00 by Analysts at Evercore ISI

Moderna (NASDAQ:MRNA - Free Report) had its price target lowered by Evercore ISI from $50.00 to $32.00 in a research note released on Friday,Benzinga reports. The firm currently has an in-line rating on the stock.

MRNA has been the subject of a number of other reports. UBS Group reduced their price target on shares of Moderna from $96.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. William Blair reissued a "market perform" rating on shares of Moderna in a report on Thursday, April 17th. Leerink Partners dropped their target price on shares of Moderna from $31.00 to $27.00 and set an "underweight" rating for the company in a research report on Thursday, January 16th. Bank of America decreased their price target on shares of Moderna from $41.00 to $34.00 and set an "underperform" rating on the stock in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $40.00 price objective on shares of Moderna in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $53.95.

Moderna Trading Up 0.8 %

Shares of MRNA stock traded up $0.23 during trading on Friday, reaching $27.84. 7,799,065 shares of the company's stock traded hands, compared to its average volume of 7,425,602. The firm's 50-day moving average is $29.52 and its 200 day moving average is $37.34. The company has a market capitalization of $10.76 billion, a P/E ratio of -3.00 and a beta of 1.99. Moderna has a 1 year low of $23.15 and a 1 year high of $170.47.

Moderna (NASDAQ:MRNA - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($2.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.92) by $0.40. Moderna had a negative return on equity of 28.74% and a negative net margin of 110.04%. The firm had revenue of $108.00 million for the quarter, compared to the consensus estimate of $130.35 million. During the same quarter in the prior year, the business posted ($3.07) earnings per share. The business's quarterly revenue was down 35.3% on a year-over-year basis. As a group, sell-side analysts predict that Moderna will post -9.61 earnings per share for the current fiscal year.

Institutional Trading of Moderna

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRNA. FMR LLC raised its stake in Moderna by 7.4% in the fourth quarter. FMR LLC now owns 18,664,634 shares of the company's stock worth $776,075,000 after buying an additional 1,282,469 shares in the last quarter. Theleme Partners LLP raised its holdings in Moderna by 1.0% in the fourth quarter. Theleme Partners LLP now owns 7,306,861 shares of the company's stock worth $303,819,000 after purchasing an additional 72,028 shares in the last quarter. Geode Capital Management LLC lifted its position in Moderna by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,241,354 shares of the company's stock valued at $300,219,000 after buying an additional 171,774 shares during the period. Invesco Ltd. boosted its holdings in shares of Moderna by 24.3% during the 4th quarter. Invesco Ltd. now owns 5,006,462 shares of the company's stock valued at $208,169,000 after buying an additional 979,858 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Moderna in the 4th quarter worth about $163,833,000. Hedge funds and other institutional investors own 75.33% of the company's stock.

Moderna Company Profile

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.