Moderna Stock Hasn't Been This Cheap Since 2020: Is Now the Time to Buy?
(NASDAQ: MRNA) has lost more than half of its value this year. The bullish investors have largely left, and the stock has plunged to levels it hasn't seen in years. Rival Pfizer has also recently raised concerns about slowing demand for COVID-19 shots as it reduced its guidance for the year. Has Moderna become an attractive contrarian stock to buy right now, or could the stock be heading even lower?
Moderna became a hot buy over the past few years due to its vaccine for COVID-19. It marked the company's entry onto the big stage, as the healthcare business's valuation soared to more than $100 billion.
But with concerns relating to COVID now on the back burner and demand no longer strong, the company's future is questionable. This year, Moderna projects between $6 billion and $8 billion in vaccine revenue. And $4 billion of that is already banked due to advance purchase agreements.
Source Fool.com
Moderna Inc. Stock
With 17 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 146 € shows a slightly positive potential of 4.38% compared to the current price of 139.88 € for Moderna Inc..
