Moderna (MRNA) closed the most recent trading day at $28.38, moving +2.83% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.06%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.39%.
The biotechnology company's shares have seen an increase of 14.76% over the last month, surpassing the Medical sector's gain of 5.06% and the S&P 500's gain of 3.94%.
Investors will be eagerly watching for the performance of Moderna in its upcoming earnings disclosure. On that day, Moderna is projected to report earnings of -$1.95 per share, which would represent a year-over-year decline of 6600%. At the same time, our most recent consensus estimate is projecting a revenue of $925.77 million, reflecting a 50.28% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$9.59 per share and revenue of $1.93 billion. These totals would mark changes of -8.12% and -40.37%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Moderna. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.15% higher. Moderna is currently a Zacks Rank #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
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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