In the latest close session, Moderna (MRNA) was down 1.87% at $33.64. This move lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Shares of the biotechnology company witnessed a gain of 25.34% over the previous month, beating the performance of the Medical sector with its loss of 0.32%, and the S&P 500's gain of 4.07%.
The upcoming earnings release of Moderna will be of great interest to investors. The company is forecasted to report an EPS of -$2.97, showcasing a 10.81% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $130.15 million, indicating a 46% decline compared to the corresponding quarter of the prior year.
MRNA's full-year Zacks Consensus Estimates are calling for earnings of -$9.81 per share and revenue of $2.08 billion. These results would represent year-over-year changes of -10.6% and -35.83%, respectively.
Any recent changes to analyst estimates for Moderna should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.26% lower. Moderna presently features a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Moderna, Inc. (MRNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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