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Moderna (MRNA) Soars 8.3%: Is Further Upside Left in the Stock?
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Moderna (MRNA - Free Report) shares ended the last trading session 8.3% higher at $130.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.1% loss over the past four weeks.
Share prices of Moderna likely rose after management announced that pharma-giant Merck exercised an option to jointly develop and commercialize Moderna’s personalized cancer vaccine (PCV) mRNA-4157/V940, as part of an existing collaboration agreement between both the companies. Per the agreement terms, Merck will make a payment of $250 million to Moderna for exercising this option.
This biotechnology company is expected to post quarterly earnings of $5.20 per share in its upcoming report, which represents a year-over-year change of -32.5%. Revenues are expected to be $4.92 billion, down 1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Moderna, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.
Moderna is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Intellia Therapeutics, Inc. (NTLA - Free Report) , finished the last trading session 2.6% higher at $54.86. NTLA has returned -15.3% over the past month.
For Intellia Therapeutics, Inc., the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to -$1.33. This represents a change of -37.1% from what the company reported a year ago. Intellia Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).
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Moderna (MRNA) Soars 8.3%: Is Further Upside Left in the Stock?
Moderna (MRNA - Free Report) shares ended the last trading session 8.3% higher at $130.72. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.1% loss over the past four weeks.
Share prices of Moderna likely rose after management announced that pharma-giant Merck exercised an option to jointly develop and commercialize Moderna’s personalized cancer vaccine (PCV) mRNA-4157/V940, as part of an existing collaboration agreement between both the companies. Per the agreement terms, Merck will make a payment of $250 million to Moderna for exercising this option.
This biotechnology company is expected to post quarterly earnings of $5.20 per share in its upcoming report, which represents a year-over-year change of -32.5%. Revenues are expected to be $4.92 billion, down 1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Moderna, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Moderna is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Intellia Therapeutics, Inc. (NTLA - Free Report) , finished the last trading session 2.6% higher at $54.86. NTLA has returned -15.3% over the past month.
For Intellia Therapeutics, Inc., the consensus EPS estimate for the upcoming report has changed +0.1% over the past month to -$1.33. This represents a change of -37.1% from what the company reported a year ago. Intellia Therapeutics, Inc. currently has a Zacks Rank of #2 (Buy).