Moderna Inc. (MRNA) Stock Price and Q3 Earnings Preview

As of November 7, 2024, Moderna Inc. (NASDAQ: MRNA) is set to report its third-quarter financial results. The company, which is a leading biotechnology firm specializing in messenger RNA therapeutics and vaccines, has seen significant fluctuations in its stock price recently. The current stock price for Moderna stands at around $52.15, last updated on November 6, 2024.

The stock has experienced a decline of 47.9% year-to-date, largely due to decreasing demand for COVID-19 vaccines. Despite this, analysts maintain a “Hold” rating with a 12-month stock price forecast of $92.07, indicating a potential increase of 70.66% from the current price.

Moderna’s financial performance has been impacted by the reduced demand for its COVID-19 vaccine, Spikevax. However, the company is diversifying its portfolio by focusing on other respiratory vaccines, including those for influenza, respiratory syncytial virus, and human metapneumovirus/parainfluenza virus type 3.

The company will host a live conference call and webcast at 8:00 a.m. ET on November 7, 2024, to report its Q3 2024 financial results. Investors are keenly watching these results for insights into Moderna’s future growth prospects and how the company plans to navigate the changing vaccine market landscape.

In addition to its financial performance, Moderna is also involved in several strategic partnerships and legal proceedings. Recently, the company entered into a joint agreement with Cenra Healthcare to promote its mRNA respiratory vaccine portfolio in Taiwan, and it is facing a patent infringement lawsuit filed by GlaxoSmithKline over its COVID-19 vaccine technology.