Moderna (NASDAQ:MRNA) Price Target Cut to $21.00 by Analysts at Bank of America

Moderna (NASDAQ:MRNA) had its target price lowered by Bank of America from $24.00 to $21.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price target suggests a potential downside of 14.43% from the stock’s previous close.

Other analysts have also issued research reports about the company. Leerink Partners dropped their price objective on Moderna from $18.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, August 22nd. Morgan Stanley increased their price target on shares of Moderna from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Moderna from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Moderna in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Moderna in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Moderna currently has a consensus rating of “Hold” and an average price target of $36.14.

Moderna Trading Up 0.9%

Shares of NASDAQ:MRNA opened at $24.54 on Monday. Moderna has a 12-month low of $23.04 and a 12-month high of $50.90. The stock’s 50-day moving average price is $25.81 and its 200-day moving average price is $27.14. The stock has a market capitalization of $9.59 billion, a P/E ratio of -3.04 and a beta of 2.02.

Moderna (NASDAQ:MRNA) last issued its earnings results on Thursday, November 6th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($2.15) by $1.64. Moderna had a negative return on equity of 29.81% and a negative net margin of 139.61%.The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $893.29 million. During the same period in the prior year, the business posted $0.03 EPS. Moderna’s quarterly revenue was down 45.4% compared to the same quarter last year. Moderna has set its FY 2025 guidance at EPS. As a group, research analysts predict that Moderna will post -9.61 EPS for the current year.

Institutional Investors Weigh In On Moderna

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRNA. S Bank Fund Management Ltd purchased a new position in Moderna during the first quarter valued at $25,000. Rothschild Investment LLC increased its stake in shares of Moderna by 94.1% in the 2nd quarter. Rothschild Investment LLC now owns 920 shares of the company’s stock worth $25,000 after acquiring an additional 446 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Moderna by 348.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 956 shares of the company’s stock worth $26,000 after acquiring an additional 743 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in Moderna during the 2nd quarter valued at about $26,000. Finally, SVB Wealth LLC bought a new stake in Moderna during the first quarter worth about $28,000. 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.