Moderna (MRNA) Receives a Buy from J.P. Morgan

By Ryan Adsit

In a report issued on January 10, Cory Kasimov from J.P. Morgan maintained a Buy rating on Moderna (MRNAResearch Report). The company’s shares closed last Monday at $20.26.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 6.1% and a 47.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Global Blood Therapeutics, and Alexion Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna with a $30.25 average price target, implying a 57.1% upside from current levels. In a report issued on January 10, Chardan Capital also reiterated a Buy rating on the stock with a $40.00 price target.

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Based on Moderna’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $123 million. In comparison, last year the company had a GAAP net loss of $141 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRNA in relation to earlier this year.

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Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.