Moderna stock has caused a stir in the stock market in 2020-2021. The company is one of the leading manufacturers of vaccines against COVID-19. Sales of coronavirus drugs have generated billions of dollars for the corporation. To see how investors feel about this biotech giant, check out analysts' stock price forecasts for Moderna in the coming years.
Moderna is a biotechnology company headquartered in Cambridge, Massachusetts. It was founded in 2010. Stephan Buncel and Derrick Jones. Moderna's mRNA platform is based on technology licensed from Merck Co. Moderna has received funding from several investors, including Bill Gates, Google Ventures, and NIH.
Moderna was listed on the Nasdaq Stock Exchange on December 6, 2018, and raised $604 million in an initial public offering. As of October 2019, the company had a market capitalization of $8.7 billion. Moderna's stock price has been volatile since its IPO, due in part to the risk inherent in investing in a biotech company that does not have approved products. However, the company's stock has been trending upward in recent months as the development of potential treatments and vaccines nears completion. With several promising candidates in clinical trials and a solid financial position, Moderna is well-positioned for future success.
In its early days, Moderna focused on the development of messenger RNA (mRNA)-based vaccines and therapeutics. In 2013, the company published work describing the use of mRNA to encode antibodies against the influenza virus. This work laid the foundation for Moderna's subsequent clinical development of mRNA-based vaccines and therapeutics.
Moderna's first product, an influenza vaccine, was approved by the U.S. Food and Drug Administration (FDA) in 2018. Moderna is also developing mRNA-based therapies for cancer and other diseases. The company collaborates with several academic institutions and pharmaceutical companies, including Merck, Pfizer, and Sanofi.
In October 2022, it was revealed that the company was working with drug maker Merck on a cancer vaccine. Following this news, Moderna's stock price rose 16%. Moderna's anti-cancer vaccine is now in Phase II trials. It is being tested in combination with Merck's cancer drug Keytruda. Work on the cancer vaccine allows the pharmaceutical giant to alleviate investor concerns about the narrow specialization of the corporation, now known mainly for developing drugs for COVID-19.
On Oct. 21, 2022, Moderna shares gained 8.4 percent after it was reported that Pfizer plans to raise the price of its vaccine in 2023. The U.S. government now pays $30.5 per dose of Pfizer's vaccine. The drug company says the cost per shot of the drug could rise to $130 in 2023. For most COVID-19 vaccine manufacturers, this could mean higher drug costs. For Moderna, analysts also raised sales estimates for next year.
The biotech giant finished the second quarter of 2022 with revenues of $4.7 billion. This was 6.8% higher than the result for the same reporting period in 2021, which was at $4.4 billion. The corporation's net income reached $2.2 billion. This figure was 27% behind the second quarter of 2021. However, pharma sales increased by 9% compared to this reporting period. That figure reached $4.7 billion in the second quarter of 2022.
Moderna's stock has lost about 50% of its value over the past year. The market capitalization of the biotech giant in 2022 was $50 billion. Despite the fall in quotations, MRNA Stock has sufficient growth potential. For example, following the release of the corporation's financial report for the second quarter of 2022, Moderna stock was up 17% the moment, according to the NASDAQ stock exchange.
Moderna's stock price is already relatively high, which means less upside potential. Our price target for Moderna in the coming years is based on the daily price target for Moderna shares as of October 25, 2022, which values the stock at $133. According to the technical analysis, in 2023, MRNA stock will trade at $160-180. By 2025, this asset has the potential to rise to the $300 mark or higher. If the flu vaccines currently in development are successful, Moderna stock could increase to $500 or more by 2030.
In March 2020, Moderna stock was trading at $28. After the pandemic began, the corporation was developing a vaccine for COVID-19. In November 2020, Moderna's stock price went into high gear and reached $380 in September 2021.
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From October 2021 to October 2022, Moderna's stock price dropped from $343 to $133.
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