After Moderna's Shocking News, Is the Stock a Buy or a Sell?
's (NASDAQ: MRNA) struggles may last a little longer than expected. The biotech company had seen both sales and its stock price plummet as demand for its coronavirus vaccine waned, but seemed to be on the road to recovery. It won approval for its new respiratory syncytial virus (RSV) vaccine, reported positive data from trials of late-stage candidates, and even saw its shares climb about 20% in the first half of the year.
But Moderna's news hasn't been as bright recently. Last month, the company revised coronavirus vaccine revenue downward due to lower sales. And in its update this week, the biotech made significant changes to its strategy. Moderna plans to cut annual research and development (R) spending by more than $1 billion starting in 2027 and discontinue five programs -- and it forecast that it would break even in 2028 instead of 2026.
After this shocking news, is the stock a buy, with the idea that efforts will spur growth -- or is it a sell? Let's find out.
Source Fool.com
Moderna Inc. Stock
The stock is one of the favorites of our community with 23 Buy predictions and 3 Sell predictions.
With a target price of 125 € there is potential for a 102.76% increase which would mean more than doubling the current price of 61.65 € for Moderna Inc..
