Moderna (NASDAQ:MRNA) Price Target Raised to $42.00

Moderna (NASDAQ:MRNA) had its target price upped by Berenberg Bank from $33.00 to $42.00 in a report released on Thursday morning. The firm currently has a hold rating on the stock.

Several other research firms have also recently weighed in on MRNA. Needham & Company LLC reiterated a “hold” rating on shares of Moderna in a research report on Friday, November 8th. Morgan Stanley reduced their price objective on Moderna from $70.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday. HSBC raised Moderna from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. dropped their target price on Moderna from $59.00 to $45.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group lowered their price objective on Moderna from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Moderna currently has a consensus rating of “Hold” and a consensus price target of $75.58.

Moderna Price Performance

Shares of MRNA opened at $34.06 on Thursday. The company has a current ratio of 4.39, a quick ratio of 4.20 and a debt-to-equity ratio of 0.05. Moderna has a 1 year low of $31.94 and a 1 year high of $170.47. The stock has a market cap of $13.11 billion, a P/E ratio of -5.85 and a beta of 1.60. The stock’s 50-day moving average price is $40.85 and its two-hundred day moving average price is $66.40.

Moderna (NASDAQ:MRNA) last released its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($1.89) by $1.92. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Moderna had a negative return on equity of 17.68% and a negative net margin of 43.77%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.39) EPS. On average, equities analysts predict that Moderna will post -9.3 earnings per share for the current year.

Insiders Place Their Bets

In other Moderna news, insider Shannon Thyme Klinger sold 1,418 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $42.79, for a total value of $60,676.22. Following the completion of the transaction, the insider now owns 19,717 shares in the company, valued at $843,690.43. The trade was a 6.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 2,664 shares of company stock valued at $115,210 in the last ninety days. 15.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moderna

A number of institutional investors and hedge funds have recently made changes to their positions in MRNA. Itau Unibanco Holding S.A. acquired a new stake in shares of Moderna in the second quarter valued at approximately $75,000. Blue Trust Inc. boosted its position in Moderna by 365.6% during the third quarter. Blue Trust Inc. now owns 731 shares of the company’s stock worth $49,000 after acquiring an additional 574 shares during the last quarter. Larson Financial Group LLC boosted its position in Moderna by 53.5% during the third quarter. Larson Financial Group LLC now owns 910 shares of the company’s stock worth $61,000 after acquiring an additional 317 shares during the last quarter. Rakuten Securities Inc. boosted its position in Moderna by 477.3% during the third quarter. Rakuten Securities Inc. now owns 941 shares of the company’s stock worth $63,000 after acquiring an additional 778 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Moderna by 58.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,057 shares of the company’s stock worth $44,000 after acquiring an additional 389 shares during the last quarter. 75.33% of the stock is owned by hedge funds and other institutional investors.

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.