Moderna (MRNA) Received its Third Buy in a Row

After Argus Research and BMO Capital 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 Wednesday at $79.36.

According to TipRanks.com, Singh is a 5-star analyst with an average return of 13.8% and a 48.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Vertex Pharmaceuticals, and Strongbridge Biopharma.

Currently, the analyst consensus on Moderna is a Strong Buy with an average price target of $90.67, which is a 10.6% upside from current levels. In a report issued on July 14, Piper Sandler also maintained a Buy rating on the stock with a $134.00 price target.

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The company has a one-year high of $95.21 and a one-year low of $11.54. Currently, Moderna has an average volume of 26.14M.

Based on the recent corporate insider activity of 125 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.