Moderna May Be Facing Its Toughest Moment Ever. Time to Sell?
Moderna (NASDAQ: MRNA) brought in billions of dollars in revenue and profit from its coronavirus vaccine during most of the pandemic's height. But today, as we move toward a post-pandemic situation, things are changing drastically. Demand for vaccines has declined, and Moderna has made the move to scale back manufacturing to match the commercial opportunity.
All this resulted in Moderna reporting a billion-dollar loss in the third quarter -- and forecasting a further drop in vaccine sales next year. In fact, 2024 may be Moderna's toughest moment ever as vaccine sales reach their lowest point, and new potential products won't yet be able to compensate. Meanwhile, Moderna shares have declined more than 50% this year, even as the company has spoken of promising long-term projects. Does this mean it's time to sell this struggling biotech stock?
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Source Fool.com
Moderna Inc. Stock
The stock is one of the favorites of our community with 21 Buy predictions and 2 Sell predictions.
With a target price of 129 € there is a hugely positive potential of 66.0% for Moderna Inc. compared to the current price of 77.71 €.
