Is It Too Late to Buy Moderna Stock?
Demand for 's (NASDAQ: MRNA) one and only product is on the decline. I'm talking about the coronavirus vaccine. As we approach a post-pandemic situation, Moderna already has started to feel the impact. In the first-quarter earnings report, vaccine sales dropped 69% year over year. And Moderna so far has orders for about $5 billion in vaccine sales for 2023.
That's a stark contrast to the last two years, when Moderna generated more than $17 billion in annual product sales. People worldwide rushed to get vaccinated during these earlier stages of the pandemic -- and even followed up with boosters. Does today's drop in vaccine sales mean it's too late to buy Moderna stock? Let's find out.
It's true that, on a first glance, it may look as if Moderna's better days are in the past. The company went from zero product revenue to billions in earnings in just a few months. Moderna's vaccine revenue also helped it build up an enormous level of cash -- that can help it advance candidates through the pipeline. Moderna reported more than $18 billion in cash at the end of last year.
Source Fool.com
Moderna Inc. Stock
With 20 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
Based on the current price of 66.08 € the target price of 134 € shows a potential of 102.78% for Moderna Inc. which would more than double the current price.
