In the latest trading session, Moderna (MRNA) closed at $33.86, marking a -5.66% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.01%. Meanwhile, the Dow experienced a rise of 0.55%, and the technology-dominated Nasdaq saw a decrease of 0.44%.
Heading into today, shares of the biotechnology company had gained 23.63% over the past month, outpacing the Medical sector's gain of 2.01% and the S&P 500's gain of 0.86%.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. On that day, Moderna is projected to report earnings of -$2.79 per share, which would represent a year-over-year decline of 11.6%. At the same time, our most recent consensus estimate is projecting a revenue of $683.27 million, reflecting a 29.27% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$7.98 per share and revenue of $1.95 billion, which would represent changes of +10.03% and 0%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Moderna. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.25% higher. Moderna is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 107, finds itself in the top 44% echelons of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Moderna, Inc. (MRNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
