Moderna (NASDAQ:MRNA) Rating Lowered to Sell at Zacks Investment Research

Moderna (NASDAQ:MRNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, July 18th, Zacks.com reports.

According to Zacks, “Moderna Inc. is a clinical stage biotechnology company pioneering messenger RNA therapeutics and vaccines for patients. The company’s product pipeline which is in clinical stage consists of mRNA-1647 for Cytomegalovirus Infectious Disease, mRNA-4157 for Solid tumors, mRNA-2416 for lymphoma and mRNA- 2752 for Relapsed/Refractory solid tumors malignancies. Moderna Inc. is based in Cambridge, United States. “

MRNA has been the topic of a number of other reports. Oppenheimer raised their price target on Moderna from $27.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 29th. Chardan Capital restated a “buy” rating on shares of Moderna in a research note on Sunday, April 7th. Five investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.

Shares of MRNA stock traded down $0.32 on Thursday, reaching $13.01. The stock had a trading volume of 645,524 shares, compared to its average volume of 1,151,025. Moderna has a 1 year low of $11.54 and a 1 year high of $29.79. The stock’s 50 day simple moving average is $14.00.

Moderna (NASDAQ:MRNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.05). The firm had revenue of $16.03 million during the quarter, compared to analysts’ expectations of $33.59 million.

Moderna Company Profile

Moderna, Inc, a clinical stage biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, and cardiovascular diseases. As of February 15, 2019 the company had 11 programs in clinical trials and a total of 20 development candidates in six modalities comprising prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.

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