Moderna cuts 2024 sales forecast, sees low EU vaccine revenue into 2026
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Moderna (MRNA) PT Lowered to $120 at Jefferies
August 1, 2024 3:59 PM EDTJefferies analyst Michael Yee lowered the price target on Moderna (NASDAQ: MRNA) to $120.00 (from $180.00) while maintaining a Buy rating.
The analyst comments "Despite confidence YTD, MRNA lowered 2024 guidance by $500M-$1B driven by lower Covid (pricing), APA deferrals + RSV will be small... More
Moderna stock plunges as guidance cut on low EU sales, U.S. vaccine competition
August 1, 2024 6:52 AM EDT(Updated - August 1, 2024 9:51 AM EDT)
Moderna (NASDAQ: MRNA) reported its second-quarter earnings Thursday, revealing a revenue of $241 million, a significant beat compared to the analyst consensus estimate of $128.41 million.
However, the company's stock plummeted by as much as 18% in early Thursday trading due to a downward revision in its full-year revenue guidance.
The biotechnology firm posted an adjusted EPS of -$3.33, narrowly outperforming the analyst estimate of -$3.35. While revenue beat expectations, it marked a 30% decrease from the $344 million reported in the same quarter last... More
