Moderna (MRNA) Stock Sinks As Market Gains: What You Should Know
Moderna (MRNA) closed the most recent trading day at $70.53, moving -0.44% from the previous trading session. This change lagged the S&P 500's daily gain of 0.35%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, added 0.37%.
Coming into today, shares of the biotechnology company had gained 8.7% in the past month. In that same time, the Medical sector gained 0.51%, while the S&P 500 gained 4.32%.
Investors will be hoping for strength from MRNA as it approaches its next earnings release, which is expected to be October 29, 2020. In that report, analysts expect MRNA to post earnings of -$0.43 per share. This would mark a year-over-year decline of 16.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 -$1.51 per share and revenue of $327.59 million. These totals would mark changes of +2.58% and +444.08%, respectively, from last year.
Any recent changes to analyst estimates for MRNA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.26% higher. MRNA is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.