Connect with us

Stocks

Is MRNA Stock a Buy Following 12% Plunge? 4 Analysts Weigh In.

It has been yet another difficult day for Covid-19 vaccine maker Moderna (NASDAQ:MRNA). Currently, shares of MRNA stock are down more than 12% as investors continue to revalue an assortment of vaccine producers.
Source: Ascannio / Shutterstoc…

It has been yet another difficult day for Covid-19 vaccine maker Moderna (NASDAQ:MRNA). Currently, shares of MRNA stock are down more than 12% as investors continue to revalue an assortment of vaccine producers.

Source: Ascannio / Shutterstock.com

Advertisement

There are a number of reasons why vaccine makers have seen their valuations take a hit. Many countries have vaccinated a large percent of their populations, eating away at the remaining market. Competition in this space hasn’t sat still, with booster shots now being split among an increased number of players. New WHO approvals have invited patients and providers to choose from a wider range of vaccines.

These factors have resulted in shifting sentiment with respect to vaccine stocks. Companies such as Moderna have held valuations that many previously considered unwarranted. Combined with a range of macroeconomic forces (rising interest rates and surging inflation), there’s little to like about the risk-reward upside with such stocks.

Advertisement

That said, let’s dive into what the experts think of Moderna right now.

Advertisement

MRNA Stock Price Predictions

For context, MRNA stock currently trades near $140. Among the high-profile analyst price targets on Moderna are the following:

  • Morgan Stanley analyst Matthew Harrison reaffirmed a “hold” rating, along with a $213 price target.
  • Among the most bullish analysts on MRNA stock is Leah Rush Cann of Brookline Capital Markets, with a $506 price target and a “buy” rating.
  • Tyler Van Buren of Cowen issued the equivalent of a “hold” rating, with a $200 price target on MRNA stock.
  • One of the more bearish analysts covering MRNA stock is Geoff Meacham of Bank of America, who put a “neutral” rating and a $180 price target on Moderna.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

  • Stock Prodigy Who Found NIO at $2… Says Buy THIS Now
  • Man Who Called Black Monday: “Prepare Now.”
  • #1 EV Stock Still Flying Under the Radar

The post Is MRNA Stock a Buy Following 12% Plunge? 4 Analysts Weigh In. appeared first on InvestorPlace.

Advertisement

InvestorPlace | Stock Market News, Stock Advice & Trading Tips

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.