Oppenheimer Believes Moderna (NASDAQ: MRNA) Still Has Room to Grow

In a report released today, Hartaj Singh from Oppenheimer assigned a Buy rating to Moderna (MRNAResearch Report), with a price target of $108.00. The company’s shares closed last Wednesday at $81.32, close to its 52-week high of $87.00.

According to TipRanks.com, Singh is a 5-star analyst with an average return of 12.6% and a 48.7% success rate. Singh covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Alexion Pharmaceuticals, and Vertex Pharmaceuticals.

Moderna has an analyst consensus of Strong Buy, with a price target consensus of $94.15, which is a 7.4% upside from current levels. In a report issued on June 30, Argus Research also initiated coverage with a Buy rating on the stock with a $80.00 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 117 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.