Moderna (MRNA) ended the recent trading session at $25.90, demonstrating a +1.97% change from the preceding day's closing price. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.51%.
Coming into today, shares of the biotechnology company had lost 4.94% in the past month. In that same time, the Medical sector gained 0%, while the S&P 500 gained 0.45%.
Market participants will be closely following the financial results of Moderna in its upcoming release. It is anticipated that the company will report an EPS of -$2.97, marking a 10.81% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $130.15 million, down 46% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$9.81 per share and a revenue of $2.08 billion, indicating changes of -10.6% and -35.83%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Moderna. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, the Zacks Consensus EPS estimate has moved 0.89% higher. As of now, Moderna holds 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 87, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Moderna, Inc. (MRNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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