Moderna Sales Forecasts Increase in 2025
Moderna’s CEO, Stéphane Bancel, stated on Tuesday that the vaccine manufacturing company expects an increase in sales in 2025. Analysts at Oppenheimer & Co. upgraded the stock to “Outperform,” noting that they anticipate the company will have five products in the market by 2026. Moderna’s shares rose on Tuesday following this news, after facing challenges in 2023 due to a decline in demand for the COVID-19 vaccine.
Forecasts for New Product Launches in the Market
Shares of Moderna Inc. (MRNA) rose by 15% on Tuesday after the vaccine manufacturer received two positive pieces of news. CEO Stéphane Bancel announced his belief that the company will see sales growth in 2025. In a letter to shareholders on Tuesday, Bancel stated that the company is optimistic as it expects to launch its RSV (respiratory syncytial virus) vaccine this year and may launch a combined flu and COVID-19 vaccine by 2025.
Moderna Stock Upgraded to “Outperform”
In addition to Bancel’s remarks, Moderna’s stock received a boost on Tuesday when brokerage firm Oppenheimer & Co. upgraded the stock to “Outperform,” believing that Moderna can develop ways to use its mRNA technology to combat diseases beyond COVID-19 in the coming years. Analysts at Oppenheimer, led by Hartaj Singh, wrote that they believe the company will launch five new products in the market by 2026.
Sales Challenges and Declining Shares
Currently, COVID-19 vaccines are the only commercially available products from Moderna. Over the next two years, the company said it will focus on increasing revenue and profitability by targeting commercial execution. The company has faced sales difficulties due to a decrease in the number of people choosing to receive COVID-19 vaccines or booster shots in 2023. This has led to a decline in its shares by more than 40% last year, making it one of the hardest-hit stocks in the S&P 500.
Source: https://www.investopedia.com/moderna-shares-surge-on-ceo-comments-oppenheimer-upgrade-8421292
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