Moderna (NASDAQ:MRNA) Price Target Raised to $77.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Moderna’s price target to $77 from $40 but maintained an “underweight” rating, implying roughly 48% downside from the cited closing price of $148.59.
• Analyst sentiment remains mixed: Moderna has a consensus “Hold” rating and an average price target of $69.50, despite several firms raising targets and William Blair upgrading the stock to “Outperform.”
• Moderna shares surged to $148.59 on heavy trading volume, while the company’s latest quarterly results beat expectations on both adjusted EPS and revenue; however, it remains unprofitable with negative margins and return on equity.

Moderna (NASDAQ:MRNA - Get Free Report) had its price target upped by stock analysts at JPMorgan Chase & Co. from $40.00 to $77.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 48.18% from the company's previous close.

A number of other equities analysts have also commented on the stock. William Blair upgraded shares of Moderna from a "market perform" rating to an "outperform" rating in a research report on Wednesday. UBS Group increased their target price on shares of Moderna from $50.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $130.00 price target on shares of Moderna in a report on Wednesday. Loop Capital set a $135.00 price target on shares of Moderna in a report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on Moderna from $67.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Moderna presently has a consensus rating of "Hold" and an average price target of $69.50.

Moderna Stock Performance

Shares of NASDAQ MRNA traded up $15.27 during mid-day trading on Friday, hitting $148.59. The company had a trading volume of 53,297,167 shares, compared to its average volume of 10,627,732. The company has a market capitalization of $59.32 billion, a price-to-earnings ratio of -18.60 and a beta of 0.91. Moderna has a 1 year low of $22.28 and a 1 year high of $176.66. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The stock's 50-day moving average price is $66.58 and its 200-day moving average price is $55.47.

Moderna (NASDAQ:MRNA - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($2.03) by $0.06. The business had revenue of $145.00 million for the quarter, compared to analysts' expectations of $102.93 million. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.13) EPS. On average, sell-side analysts forecast that Moderna will post -6.18 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shannon Thyme Klinger sold 3,471 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $50.00, for a total value of $173,550.00. Following the transaction, the insider owned 67,468 shares of the company's stock, valued at $3,373,400. This represents a 4.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Hoge sold 53,336 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $51.37, for a total transaction of $2,739,870.32. Following the completion of the transaction, the president owned 1,483,848 shares of the company's stock, valued at $76,225,271.76. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Moderna

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Moderna in the 1st quarter worth approximately $415,000. NewEdge Advisors LLC raised its position in Moderna by 732.7% in the 1st quarter. NewEdge Advisors LLC now owns 11,575 shares of the company's stock worth $328,000 after purchasing an additional 10,185 shares during the period. United Services Automobile Association purchased a new position in Moderna in the 1st quarter worth $230,000. Focus Partners Wealth lifted its stake in Moderna by 58.7% in the first quarter. Focus Partners Wealth now owns 23,547 shares of the company's stock worth $668,000 after purchasing an additional 8,706 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Moderna by 5.2% during the second quarter. American Century Companies Inc. now owns 48,859 shares of the company's stock valued at $1,348,000 after buying an additional 2,410 shares during the period. 75.33% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Moderna

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna and Merck reported that their personalized mRNA therapy, intismeran, combined with Keytruda, met the primary and key secondary endpoints in the Phase 3 INTerpath-001 melanoma trial. The treatment improved recurrence-free and distant metastasis-free outcomes in high-risk patients, supporting hopes that Moderna can expand beyond its COVID-19 vaccine business. MRK/MRNA's Personalized Cancer Therapy Delivers First Phase III Win
• Positive Sentiment: The trial success has led analysts to assign substantial value to Moderna’s oncology platform. Jefferies estimated potential global peak sales of up to $54 billion for the therapy and raised its price target to $170, while William Blair upgraded the stock to Outperform. Moderna oncology platform draws Street value after melanoma trial win
• Positive Sentiment: The news triggered heavy short covering, reportedly creating billions of dollars in mark-to-market losses for short sellers and contributing to unusually high trading volume. The rally also renewed interest in the broader mRNA sector. Moderna short-sellers stare at record one-day loss as shares surge on vaccine data
• Neutral Sentiment: Bank of America raised Moderna to Neutral, while William Blair upgraded it to Outperform. The mixed ratings reflect optimism about the clinical opportunity but uncertainty over valuation, regulatory approval, launch timing and the amount of future growth already reflected in the stock.
• Negative Sentiment: Trading has whipsawed as investors take profits and debate whether the melanoma opportunity is overhyped. There is no additional clinical data today, leaving the stock vulnerable to further volatility after its extraordinary recent advance. Moderna's personalized mRNA shot could reshape the fight against skin cancer
• Negative Sentiment: High-volume put-option purchases indicate that some traders are positioning for a pullback, underscoring elevated downside risk despite the positive fundamental catalyst.

Moderna Company Profile

Moderna, Inc is a biotechnology company headquartered in Cambridge, Massachusetts, specializing in messenger RNA (mRNA) therapeutics and vaccines. The company’s platform leverages synthetic mRNA to instruct cells to produce proteins that can prevent or treat diseases. Since its founding in 2010, Moderna has advanced from early-stage research into a broad pipeline of vaccine and therapeutic candidates designed to address infectious diseases, rare genetic disorders and chronic illnesses.

Moderna’s flagship product is its mRNA-based COVID-19 vaccine, which was the first of its kind to receive emergency use authorization and later full approval in multiple jurisdictions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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