Why Moderna Stock Is Sinking This Week
Shares of (NASDAQ: MRNA) were down 16.2% for the week as of the market close on Thursday, according to data provided by S&P Global Market Intelligence. That decline was in part connected to broad market choppiness that was driven by macroeconomic and geopolitical concerns. However, the bigger factor pushing Moderna in particular lower was that investors are worried about the outlook for its COVID-19 vaccine sales.
Investors' concerns are understandable. After the market closed on Friday, Oct. 13, Pfizer (NYSE: PFE) lowered its full-year 2023 guidance. The reduced outlook was solely due to weaker sales expectations for COVID products Comirnaty and Paxlovid.
Moderna, though, sought to reassure investors. On Monday, the company released a statement about its anticipated 2023 COVID sales. Management said that it "remains comfortable" with its previous guidance for sales between $6 billion and $8 billion for 2023.
Source Fool.com
Moderna Inc. Stock
Based on 9 Buy predictions and 8 Sell predictions the sentiment towards Moderna Inc. is rather balanced.
On the other hand, the target price of 21 € is below the current price of 50.21 € for Moderna Inc., so the potential is actually -58.18%.
