Despite becoming a household name during the pandemic, Moderna (MRNA) stock has mostly fallen over the past three years amid decelerating sales and clinical pitfalls.
Shares crashed on Sept. 12 after the company cut its sales guidance for the year to $2.5 billion to $3.5 billion. This is Moderna's second guidance cut this year. The company started 2024 projecting at least $4 billion in sales. Moderna also pushed out its breakeven point by two years to 2028. And, for 2027, the company now expects to cut its research and development budget by $1.1 billion.
That's amid a massive commercial push. Today, Moderna sells two products — its Covid vaccine called Spikevax and a respiratory syncytial virus vaccine, mResvia. But it's going up against giants. Pfizer (PFE) and BioNTech (BNTX) continue to lead the market for Covid shots, and both GSK (GSK) and Pfizer entered the respiratory syncytial virus market a year before Moderna.
"We have a cautious outlook on both (Spikevax and mResvia)," Leerink Partners analyst Joseph Stringer said in a report. "We believe Covid vaccination rates will decline faster than expected and mResvia will face competitive pressure from approved RSV vaccines Arexvy and Abrysvo."
https://www.investors.com/news/technology/mrna-stock-buy-now/
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