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, 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.

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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.

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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.