Needham Thinks Moderna Inc’s Stock is Going to Recover

By Austin Angelo

In a report issued on August 7, Alan Carr from Needham maintained a Buy rating on Moderna Inc (MRNAResearch Report), with a price target of $28. The company’s shares closed on Friday at $13.33, close to its 52-week low of $11.54.

According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.8% and a 41.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna Inc with a $30.50 average price target, representing a 128.8% upside. In a report issued on August 7, J.P. Morgan also maintained a Buy rating on the stock with a $24 price target.

See today’s analyst top recommended stocks >>

Based on Moderna Inc’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 $37.94 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.