Is It Too Late to Buy Moderna Stock?
Demand for 's (NASDAQ: MRNA) one and only product is on the decline. I'm talking about the coronavirus vaccine. As we approach a post-pandemic situation, Moderna already has started to feel the impact. In the first-quarter earnings report, vaccine sales dropped 69% year over year. And Moderna so far has orders for about $5 billion in vaccine sales for 2023.
That's a stark contrast to the last two years, when Moderna generated more than $17 billion in annual product sales. People worldwide rushed to get vaccinated during these earlier stages of the pandemic -- and even followed up with boosters. Does today's drop in vaccine sales mean it's too late to buy Moderna stock? Let's find out.
It's true that, on a first glance, it may look as if Moderna's better days are in the past. The company went from zero product revenue to billions in earnings in just a few months. Moderna's vaccine revenue also helped it build up an enormous level of cash -- that can help it advance candidates through the pipeline. Moderna reported more than $18 billion in cash at the end of last year.
Source Fool.com
Moderna Inc. Stock
With 11 Buy predictions and 12 Sell predictions the community is currently undecided on Moderna Inc..
The target price of 19 € compared with the current price of 118.64 € for the stock indicates a negative potential of -83.99%.
