Evercore ISI Cuts Moderna (NASDAQ:MRNA) Price Target to $50.00

Moderna (NASDAQ:MRNA) had its price target reduced by Evercore ISI from $60.00 to $50.00 in a research report sent to investors on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other research firms also recently commented on MRNA. Piper Sandler reissued an “overweight” rating and set a $69.00 target price (down from $115.00) on shares of Moderna in a research report on Monday, November 18th. Bank of America reiterated an “underperform” rating and set a $41.00 price target on shares of Moderna in a research note on Tuesday, December 10th. Barclays cut their price objective on Moderna from $125.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Hsbc Global Res upgraded Moderna from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Sanford C. Bernstein began coverage on shares of Moderna in a research note on Thursday, October 17th. They issued a “market perform” rating and a $55.00 price objective for the company. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.26.

Moderna Price Performance

Shares of NASDAQ:MRNA opened at $40.72 on Monday. The business has a fifty day simple moving average of $40.87 and a 200 day simple moving average of $62.03. 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 firm has a market cap of $15.67 billion, a price-to-earnings ratio of -7.00 and a beta of 1.60.

Moderna (NASDAQ:MRNA) last announced its quarterly 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 business had revenue of $1.90 billion during 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 firm’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. As a group, sell-side analysts predict that Moderna will post -9.27 earnings per share for the current fiscal year.

Insider Activity

In other 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 sale, the insider now owns 19,717 shares in the company, valued at approximately $843,690.43. The trade was a 6.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 2,664 shares of company stock worth $115,210. Company insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On Moderna

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Axiom Advisory LLC raised its stake in shares of Moderna by 1.6% in the third quarter. Axiom Advisory LLC now owns 12,672 shares of the company’s stock valued at $847,000 after acquiring an additional 198 shares during the last quarter. Arkadios Wealth Advisors raised its position in Moderna by 2.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 11,429 shares of the company’s stock valued at $764,000 after purchasing an additional 243 shares during the last quarter. Knuff & Co LLC boosted its stake in Moderna by 5.4% in the third quarter. Knuff & Co LLC now owns 4,732 shares of the company’s stock worth $316,000 after purchasing an additional 244 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Moderna by 7.9% during the third quarter. Stephens Inc. AR now owns 3,334 shares of the company’s stock worth $223,000 after purchasing an additional 245 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of Moderna by 25.7% in the third quarter. Mather Group LLC. now owns 1,281 shares of the company’s stock valued at $86,000 after buying an additional 262 shares in the last quarter. 75.33% of the stock is currently owned by institutional investors and hedge funds.

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.