Moderna stock is trading at $133.93 as of 03:52 PM EDT
The argument made by Morgan Stanley on Tuesday that Moderna (NASDAQ:MRNA) would lower its 2023 prediction for COVID boosters during its forthcoming Q3 earnings call was based on a worse-than-anticipated market opportunity and an unduly positive consensus.
Analyst Matthew Harrison observes that despite the business’s confirmed orders for COVID vaccines for 2023 being less than the consensus at $2 billion, Wall Street expects the company to announce $10 billion in COVID vaccine revenues.
The analyst stated in a report that “investors are apprehensive about management’s ability to fulfill consensus estimates of around $10 billion in COVID vaccination revenues” and that MRNA’s revenue guidance for 2023 “remains an overhang.”
Prior to data readouts from the Phase 2 trial for a tailored cancer vaccine and the Phase 3 trials for RSV (respiratory syncytial virus) and flu vaccinations, Harrison contends that management will choose to lower lofty expectations on the Q3 call. Harrison noted that it could be wise to lower expectations today because it offers better risk/reward for pipeline catalysts. He reduced the price estimate for MRNA from $197 per share to $175. The results for Moderna’s third quarter of 2022 are expected to be released on November 3 before the opening bell.
Baron Funds research Moderna stock outlook
Investment management firm Baron Funds published their investor letter for the “Baron Health Care Fund” for the third quarter of 2022. The fund saw a third-quarter loss of 6.01% compared to a loss of 4.72% for the Russell 3000 Health Care Index. The quarter’s poor performance of the fund was attributed to the stock choices made. In its investor letter for Q3 2022, Baron Funds highlighted equities like Moderna, Inc. (NASDAQ:MRNA). Biotechnology firm Moderna, Inc. (NASDAQ:MRNA) is based in Cambridge, Massachusetts.
Moderna, Inc.’s (NASDAQ:MRNA) stock ended trading on October 14, 2022, at $134.00 per share. Moderna, Inc.’s (NASDAQ:MRNA) one-month return was 4.77%, while over the previous 52 weeks, the stock’s value decreased by 59.98%. The market value of Moderna, Inc. (NASDAQ:MRNA) is $52.421 billion.
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Author Jowi Kwasu 
