In the latest trading session, Moderna (MRNA) closed at $25.51, marking a +2.03% move from the previous day. This change outpaced the S&P 500's 0.48% gain on the day. On the other hand, the Dow registered a gain of 0.27%, and the technology-centric Nasdaq increased by 0.94%.
Prior to today's trading, shares of the biotechnology company had lost 7.03% lagged the Medical sector's gain of 1.09% and the S&P 500's gain of 2.46%.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. The company's upcoming EPS is projected at -$1.94, signifying a 6,566.67% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $962.38 million, down 48.31% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$9.7 per share and revenue of $1.92 billion. These totals would mark changes of -9.36% and -40.61%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Moderna. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.5% higher within the past month. Currently, Moderna is carrying a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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