After Piper Jaffray and Needham gave Moderna Inc (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from Chardan Capital. Analyst Gbola Amusa reiterated a Buy rating on Moderna Inc today and set a price target of $40. The company’s shares closed last Monday at $16.40.
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 18.7% and a 51.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Voyager Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna Inc with a $30.40 average price target, implying an 87.3% upside from current levels. In a report issued on September 3, Needham also maintained a Buy rating on the stock with a $28 price target.
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Based on Moderna Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $135 million. In comparison, last year the company had a GAAP net loss of $37.94 million.
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Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.
