In the latest close session, Moderna (MRNA) was down 1.48% at $47.99. The stock fell short of the S&P 500, which registered a gain of 0.5% for the day. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.43%.
Prior to today's trading, shares of the biotechnology company had gained 56.12% outpaced the Medical sector's loss of 0.63% and the S&P 500's gain of 0.18%.
The upcoming earnings release of Moderna will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$2.7, reflecting a 8% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $663.62 million, showing a 31.3% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$7.9 per share and revenue of $1.91 billion. These totals would mark changes of +10.94% and 0%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Moderna. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 witnessed a 1.87% increase. At present, Moderna boasts a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 36% of over 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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