Based in Cambridge, Massachusetts, Moderna, Inc. (MRNA) is a leading biotechnology company that develops messenger RNA (mRNA) therapeutics and vaccines. It is renowned for its innovative mRNA technology platform, which was pivotal in the rapid development and distribution of its COVID-19 vaccine. With a market cap of $20.7 billion, Moderna is recognized for its groundbreaking research, commitment to addressing global health challenges, and efforts to develop a broad pipeline of mRNA-based treatments for various diseases. Moderna is scheduled to announce its fiscal Q3 earnings results before the market opens on Thursday, Nov. 7.

Ahead of the event, analysts expect MRNA to report a loss of $1.93 per share, rising 38.9%  compared to the loss of $1.39 per share in the same quarter last year. The company has consistently surpassed Wall Street’s EPS estimates in each of its last four quarterly reports. 

For fiscal 2024, analysts expect MRNA to report a loss per share of $9.94, 19.4% narrower from a loss per share of $12.33 in fiscal 2023. 

MRNA stock is down 45.9% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 22.7% gains and the Healthcare Select Sector SPDR Fund’s (XLV) 11% gains over the same time frame.

Although Moderna was among the pioneers in providing one of the first and most widely utilized COVID-19 vaccines, its shares have experienced substantial losses over the past couple of years, driven by falling sales resulting from reduced demand for the vaccine. Over the past month, shares of MRNA have declined by over 20% following management's update on its business outlook for the next four years.

Additionally, the stock tumbled 13% on Sept. 12 after the company revealed intentions to reduce its research and development (R&D) budget during this timeframe.

The consensus opinion on MRNA stock is neutral, with an overall “Hold” rating. Out of 23 analysts covering the stock, six advise a “Strong Buy” rating, 15 suggest a “Hold,” and two recommend “Strong Sell.”

The average analyst price target for Moderna stands at $100.85, suggesting a remarkable potential upside of 87.5% from current price levels.

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