Why Moderna Stock Is Sinking This Week
Shares of (NASDAQ: MRNA) were down 16.2% for the week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. That decline was in part connected to broad market choppiness that was driven by macroeconomic and geopolitical concerns. However, the bigger factor pushing Moderna in particular lower was that investors are worried about the outlook for its COVID-19 vaccine sales.
Investors' concerns are understandable. After the market closed on Friday, Oct. 13, Pfizer (NYSE: PFE) lowered its full-year 2023 guidance. The reduced outlook was solely due to weaker sales expectations for COVID products Comirnaty and Paxlovid.
Moderna, though, sought to reassure investors. On Monday, the company released a statement about its anticipated 2023 COVID sales. Management said that it "remains comfortable" with its previous guidance for sales between $6 billion and $8 billion for 2023.
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 65.74 € the target price of 134 € shows a potential of 103.83% for Moderna Inc. which would more than double the current price.
