In the latest trading session, Moderna (MRNA - Free Report) closed at $57.56, marking a +1.16% move from the previous day. This move outpaced the S&P 500's daily loss of 1.76%. Meanwhile, the Dow lost 1.45%, and the Nasdaq, a tech-heavy index, lost 1.99%.
Coming into today, shares of the biotechnology company had lost 18.15% in the past month. In that same time, the Medical sector lost 0.92%, while the S&P 500 gained 1.56%.
MRNA will be looking to display strength as it nears its next earnings release. On that day, MRNA is projected to report earnings of -$0.43 per share, which would represent a year-over-year decline of 16.22%. Our most recent consensus estimate is calling for quarterly revenue of $77.52 million, up 354.66% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.54 per share and revenue of $417.96 million. These totals would mark changes of +0.65% and +594.18%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for MRNA. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 0.08% lower. MRNA is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.