Needham Reaffirms Their Buy Rating on Moderna (MRNA)

By Austin Angelo

In a report released today, Alan Carr from Needham maintained a Buy rating on Moderna (MRNAResearch Report), with a price target of $28.00. The company’s shares closed last Monday at $17.38.

According to, Carr is a 1-star analyst with an average return of -0.4% and a 42.1% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Lexicon Pharmaceuticals, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Moderna is a Strong Buy with an average price target of $30.80, implying an 83.0% upside from current levels. In a report issued on October 25, Roth Capital also initiated coverage with a Buy rating on the stock with a $24.00 price target.

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Based on Moderna’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $135 million. In comparison, last year the company had a GAAP net loss of $80.33 million.

Based on the recent corporate insider activity of 13 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.