Moderna (MRNA) closed the latest trading day at $99.30, indicating a -0.73% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.82% for the day. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 0.95%.
The biotechnology company's stock has dropped by 9.21% in the past month, falling short of the Medical sector's gain of 3.2% and the S&P 500's gain of 5.59%.
The investment community will be closely monitoring the performance of Moderna in its forthcoming earnings report. The company is scheduled to release its earnings on February 22, 2024. The company's upcoming EPS is projected at -$0.82, signifying a 122.71% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.5 billion, showing a 50.84% drop compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Moderna. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 15.71% higher. As of now, Moderna holds a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 40% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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