Moderna (NASDAQ:MRNA) Upgraded at BidaskClub

BidaskClub upgraded shares of Moderna (NASDAQ:MRNA) from a hold rating to a buy rating in a research note issued to investors on Thursday, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. SunTrust Banks began coverage on shares of Moderna in a research report on Monday, July 27th. They issued a buy rating and a $120.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Moderna from $94.00 to $112.00 and gave the company an outperform rating in a research report on Monday, July 27th. Oppenheimer reaffirmed a buy rating and issued a $108.00 target price on shares of Moderna in a research report on Wednesday, August 12th. Piper Sandler increased their target price on shares of Moderna from $100.00 to $134.00 in a research report on Wednesday, July 15th. Finally, Zacks Investment Research raised shares of Moderna from a hold rating to a buy rating and set a $86.00 target price on the stock in a research report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $87.44.

Shares of NASDAQ:MRNA opened at $69.87 on Thursday. Moderna has a 52 week low of $13.53 and a 52 week high of $95.21. The company’s 50 day moving average is $67.72 and its two-hundred day moving average is $56.04.

Moderna (NASDAQ:MRNA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.05. Moderna had a negative net margin of 461.42% and a negative return on equity of 27.85%. The company had revenue of $66.35 million for the quarter, compared to the consensus estimate of $24.24 million. Moderna’s quarterly revenue was up 407.2% on a year-over-year basis. On average, research analysts forecast that Moderna will post -1.54 earnings per share for the current year.

In other Moderna news, President Stephen Hoge sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $63.69, for a total transaction of $318,450.00. Following the transaction, the president now directly owns 1,983,531 shares of the company’s stock, valued at approximately $126,331,089.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephane Bancel sold 9,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $63.25, for a total transaction of $569,250.00. Following the completion of the sale, the chief executive officer now owns 6,725,858 shares of the company’s stock, valued at approximately $425,410,518.50. The disclosure for this sale can be found here. Insiders have sold a total of 799,581 shares of company stock worth $55,375,267 over the last three months. 29.20% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MRNA. Bessemer Group Inc. acquired a new stake in shares of Moderna in the 2nd quarter worth $27,000. Corbenic Partners LLC acquired a new stake in shares of Moderna in the 2nd quarter worth $32,000. BDO Wealth Advisors LLC acquired a new stake in shares of Moderna in the 2nd quarter worth $32,000. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Moderna by 124.0% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 560 shares of the company’s stock worth $36,000 after acquiring an additional 310 shares during the period. Finally, Pacitti Group Inc. lifted its stake in shares of Moderna by 175.6% in the 2nd quarter. Pacitti Group Inc. now owns 620 shares of the company’s stock worth $44,000 after acquiring an additional 395 shares during the period. Institutional investors own 55.04% of the company’s stock.

Moderna Company Profile

Moderna, Inc, a clinical stage biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, and cardiovascular diseases. As of February 15, 2019 the company had 11 programs in clinical trials and a total of 20 development candidates in six modalities comprising prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.

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Analyst Recommendations for Moderna (NASDAQ:MRNA)

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