Moderna (MRNA) Received its Third Buy in a Row

After J.P. Morgan and Piper Sandler gave Moderna (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alan Carr initiated coverage with a Buy rating on Moderna today and set a price target of $94.00. The company’s shares closed last Tuesday at $59.87.

According to, Carr is a 3-star analyst with an average return of 0.9% and a 42.7% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Phathom Pharmaceuticals, and ACADIA Pharmaceuticals.

Moderna has an analyst consensus of Strong Buy, with a price target consensus of $89.33, a 52.2% upside from current levels. In a report issued on May 19, BMO Capital also maintained a Buy rating on the stock with a $112.00 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 21.07M.

Based on the recent corporate insider activity of 91 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.