Moderna (MRNA) Received its Third Buy in a Row

After Piper Sandler and Oppenheimer gave Moderna (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Gbola Amusa reiterated a Buy rating on Moderna today. The company’s shares closed last Friday at $61.50.

According to TipRanks.com, Amusa is a top 100 analyst with an average return of 27.1% and a 53.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Adverum Biotechnologies, Axovant Gene Therapies, and Catalyst Biosciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna with a $96.75 average price target, which is a 68.4% upside from current levels. In a report issued on May 18, Goldman Sachs also maintained a Buy rating on the stock with a $105.00 price target.

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The company has a one-year high of $87.00 and a one-year low of $11.54. Currently, Moderna has an average volume of 21.24M.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRNA in relation to earlier this year.

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Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics. The company was founded by Noubar B. Afeyan, Robert S. Langer, Jr., Derrick J. Rose and Kenneth R. Chien in 2010 and is headquartered in Cambridge, MA.