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Moderna (MRNA) Soars 3.3%: Is Further Upside Left in the Stock?

Moderna MRNA shares ended the last trading session 3.3% higher at $197.02. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.2% loss over the past four weeks.

This marks the second consecutive day of Moderna’s price increase since it announced positive data from a pivotal late-stage study evaluating its mRNA-based RSV vaccine in older adults aged 60 years and above. The study achieved its primary efficacy endpoints. The vaccine was 83.7% effective against RSV lower respiratory tract disease, defined by 2 or more symptoms in older adults.

This biotechnology company is expected to post quarterly earnings of $4.66 per share in its upcoming report, which represents a year-over-year change of -58.7%. Revenues are expected to be $4.91 billion, down 31.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.


For Moderna, the consensus EPS estimate for the quarter has been revised 259.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on MRNA going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Moderna is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Repligen RGEN, finished the last trading session 0.7% lower at $184.30. RGEN has returned 13.2% over the past month.

Repligen's consensus EPS estimate for the upcoming report has changed -2.3% over the past month to $0.58. Compared to the company's year-ago EPS, this represents a change of -28.4%. Repligen currently boasts a Zacks Rank of #3 (Hold).

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