Moderna's Q3 Earnings Beat Overshadowed By Vaccine Demand Slowdown And Market Share Concerns, Analysts Warn

On Thursday, Moderna Inc. (NASDAQ:MRNA) reported third-quarter revenue of $1.83 billion, beating the consensus of $1.25 billion.

The company attributed the growth to higher sales in the U.S. market following the earlier launch of the updated COVID-19 vaccine.

BofA Securities notes that Moderna’s stock rose early Thursday but ended the day lower, likely due to slowing vaccine trends and uncertainty around the company’s respiratory vaccine lineup, as well as new concerns related to Trump and Kennedy’s positions on vaccines.

The analyst has reduced the price target from $110 to $90, adjusting for a higher discount rate (9% instead of 7%) based on updated commercial risk expectations, lower sales forecasts for COVID-19 and RSV vaccines, and reduced net cash. The analyst maintained a Neutral rating on Moderna.

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