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Moderna (MRNA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Moderna (MRNA - Free Report) closed at $120.65, marking a -1% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the biotechnology company had gained 0.99% in the past month. In that same time, the Medical sector lost 0.13%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Moderna as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of -$3.84, down 173.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $290.74 million, down 93.88% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.06 per share and revenue of $6.51 billion, which would represent changes of -115.21% and -66.22%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.3% 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 115, putting it in the top 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Moderna (MRNA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Moderna (MRNA - Free Report) closed at $120.65, marking a -1% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the biotechnology company had gained 0.99% in the past month. In that same time, the Medical sector lost 0.13%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Moderna as it approaches its next earnings release, which is expected to be August 3, 2023. The company is expected to report EPS of -$3.84, down 173.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $290.74 million, down 93.88% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.06 per share and revenue of $6.51 billion, which would represent changes of -115.21% and -66.22%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.3% 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 115, putting it in the top 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.