Moderna (MRNA) closed at $81.81 in the latest trading session, marking a +1.98% move from the prior day. This move outpaced the S&P 500's daily loss of 0.34%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.73%.
Coming into today, shares of the biotechnology company had gained 26.71% in the past month. In that same time, the Medical sector gained 5.8%, while the S&P 500 gained 5.71%.
Wall Street will be looking for positivity from MRNA as it approaches its next earnings report date. The company is expected to report EPS of -$0.39, up 4.88% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24 million, up 83.49% from the year-ago period.
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For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.50 per share and revenue of $134.67 million, which would represent changes of +3.23% and +123.67%, respectively, from the prior year.
Any recent changes to analyst estimates for MRNA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% lower. MRNA currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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