Moderna (MRNA) Received its Third Buy in a Row

After Morgan Stanley and Argus Research gave Moderna (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Hartaj Singh assigned a Buy rating to Moderna today and set a price target of $108.00. The company’s shares closed last Friday at $73.62.

According to TipRanks.com, Singh is a 5-star analyst with an average return of 13.3% and a 49.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Alexion Pharmaceuticals, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Moderna is a Strong Buy with an average price target of $91.87, representing a 33.0% upside. In a report issued on July 13, Jefferies also initiated coverage with a Buy rating on the stock with a $90.00 price target.

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Based on Moderna’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.39 million and GAAP net loss of $124 million. In comparison, last year the company earned revenue of $16.03 million and had a GAAP net loss of $133 million.

Based on the recent corporate insider activity of 122 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.