Moderna (NASDAQ:MRNA) Releases Earnings Results, Beats Estimates By $1.48 EPS

Moderna (NASDAQ:MRNA) announced its earnings results on Friday. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $1.48, FiscalAI reports. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $890.25 million. During the same period in the previous year, the firm earned ($0.51) earnings per share. Moderna’s revenue for the quarter was up 29.2% compared to the same quarter last year.

Here are the key takeaways from Moderna’s conference call:

• Moderna reported third-quarter revenue of $1.3 billion, up 29% year over year, and net income of $162 million. Stronger-than-expected U.S. and international sales led the company to raise its 2026 revenue growth outlook to 15%–25%, though management said shipment timing also contributed to the quarter’s strength.
• The company lowered its 2026 R&D expense outlook by $200 million and its capital expenditure estimate, while raising its year-end cash and investments forecast to $8.1–$8.3 billion. That cash outlook includes $2.6 billion in net proceeds from convertible notes.
• Moderna and Merck reported Phase III melanoma results for intismeran plus pembrolizumab, showing a 42% reduction in the risk of recurrence or death versus pembrolizumab alone; a treated-patient analysis showed a 49% reduction. The companies are working toward a BLA submission this year, with approval, pricing, and commercialization still ahead.
• Moderna added U.S. approval of its flu vaccine mFLUSIVA and approvals for mFLUSIVA and its flu/COVID combination vaccine in Canada, expanding its commercial respiratory portfolio. The company also reported international progress and said U.S. respiratory vaccinations were slightly ahead of last year overall through late October.
• The Phase III norovirus vaccine study did not meet its interim criteria for early success, and Moderna will not enroll the additional cohort it had previously planned. It is consulting health authorities on next steps and has not provided a revised development plan.

Moderna Stock Up 5.3%

NASDAQ:MRNA traded up $12.73 on Friday, hitting $254.19. 16,295,043 shares of the company’s stock traded hands, compared to its average volume of 12,652,009. The company has a market cap of $101.48 billion, a PE ratio of -31.81 and a beta of 1.16. Moderna has a 1 year low of $22.28 and a 1 year high of $267.50. The company has a current ratio of 2.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $191.85 and a 200-day moving average price of $91.51.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen reiterated a “buy” rating on shares of Moderna in a research report on Wednesday, October 21st. Berenberg Bank boosted their price objective on Moderna from $45.00 to $100.00 and gave the stock a “hold” rating in a report on Friday, September 11th. Piper Sandler reaffirmed an “overweight” rating and set a $230.00 price objective (up from $167.00) on shares of Moderna in a research note on Monday, October 26th. Loop Capital set a $135.00 price objective on shares of Moderna in a research note on Wednesday, August 19th. Finally, Singular Research upgraded shares of Moderna to a “hold” rating in a report on Wednesday, September 23rd. Six analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $107.10.

Insider Transactions at Moderna

In related news, insider Shannon Klinger sold 3,471 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total transaction of $485,766.45. Following the completion of the sale, the insider directly owned 74,129 shares in the company, valued at approximately $10,374,353.55. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamey Mock sold 34,836 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $134.49, for a total transaction of $4,685,093.64. Following the transaction, the chief financial officer directly owned 59,375 shares in the company, valued at $7,985,343.75. The trade was a 36.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 197,251 shares of company stock valued at $33,875,904 over the last three months. 10.80% of the stock is owned by corporate insiders.

More Moderna News

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna reported third-quarter revenue of $1.31 billion, up 29.2% year over year, and earnings of $0.38 per share, far ahead of analysts’ expectations for a loss. Stronger overseas COVID-19 vaccine sales helped drive the results. Reuters report on revenue and demand
• Positive Sentiment: Management raised its 2026 revenue-growth forecast to 15%–25%, from a prior outlook of up to 10%. The company also said it plans to reduce research and development spending, supporting its near-term financial performance. CNBC outlook report
• Positive Sentiment: Health Canada authorized Moderna’s seasonal flu and flu-COVID combination vaccines for adults 50 and older, opening a potential new market for its mRNA products. CBC report on Canadian approvals
• Positive Sentiment: Investors are also watching prospects for Moderna’s cancer vaccine: CEO Stéphane Bancel said it could have potential beyond melanoma. That adds pipeline excitement, though future commercial value remains uncertain. Yahoo Finance report on cancer vaccine prospects
• Neutral Sentiment: Moderna and GSK settled a patent dispute involving Moderna’s COVID and RSV shots. The settlement removes a source of legal uncertainty, but the available report does not specify its financial terms. Reuters report on patent settlement
• Negative Sentiment: The sharp rally has heightened concerns that expectations for the cancer-vaccine pipeline may be running ahead of near-term revenue potential. Moderna’s longer-term prospects still depend on sustaining vaccine sales and turning pipeline advances into commercial products. Barron’s analysis of Moderna’s earnings and valuation

About Moderna

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can help prevent or treat disease.

The company’s commercial products include Spikevax, a vaccine against COVID-19, and mRESVIA, a vaccine against respiratory syncytial virus (RSV). Moderna also researches potential mRNA-based vaccines and treatments for infectious diseases, cancer, and rare diseases.

Founded in 2010 as Moderna Therapeutics, the company is headquartered in Cambridge, Massachusetts.