Moderna Investors Record Profits Following Record Earnings Report
Biotech company Moderna (MRNA) reported second-quarter sales growth of nearly 6,400% over last year. The stocks, which peaked this week, closed down 0.7% on Thursday as investors took profits by selling the stock at the peak.
Moderna Inc. (MRNA) brought significant profits to investors who bought them at least a month ago.
Biotech company Moderna became the second company to receive emergency use of its COVID-19 vaccine last December, after Pfizer (PFE) and BioNTech (BNTX)
Moderna’s stock chart shows an increase of almost 450% over the past 12 months, up 300% beginning of 2021, + 160% last quarter, and 87.6% over the previous month.
After a record gain during the week, Moderna shares closed down 0.7% on Thursday, as investors took profits by selling their shares at their peak.
On Thursday, Moderna reported its second-quarter financial results, the second consecutive record quarter in its history, thanks to the delivery of 199 million Covid-19 vaccines. Vaccine sales accounted for over 90% of Moderna’s total sales in the quarter. After losing eight consecutive quarters, the first and second quarters of 2021, Moderna posted substantial profits.
Moderna posted quarterly earnings per share of $ 6.46, beating Wall Street analysts’ median forecasts of $ 6.04.
Total quarterly revenues rose nearly 6,400% to $ 4.4 billion from $ 66.35 million in the same quarter a year ago. The indicator also exceeded the average analyst expectations of $ 4.28 billion.
Moderna also announced a $ 1 billion share buyback program that will benefit investors over the next two years.
The company said its vaccine was 93% effective within six months of the second dose.
Higher than the 84% efficacy of the Pfizer-BioNTech vaccine eight months after the second shot.
However, these Moderna data do not include the vaccine’s effectiveness against the more contagious strain of the Delta coronavirus.
At the same time, Moderna announced on Thursday the results of the second phase of trials, which showed that the booster dose of the vaccine (revaccination over time) caused a “sustained” antibody response against three strains of COVID, including Delta.
Moderna Predictions
In its report, Moderna raised its forecast for 2021 and now expects annual sales of $ 20 billion, including agreements already signed to sell its vaccines from Covid.
This year, Moderna says it will produce between 800 million and 1 billion doses of the vaccine.
Analysts expect Moderna to earn $ 26.17 per share in 2021 on $ 18.77 billion in sales, a four-digit growth rate company over the past 2020, in which Moderna posted a loss of $ 1.96 per share. on sales of $ 803 million
Moderna expects to earn annually from the sale of its booster vaccines, while the company is also moving its influenza and respiratory syncytial virus vaccines to a late stage of testing and plans to begin a Phase 3 trial of its cytomegalovirus vaccine later this year.
So far, the pace and volume of sales of booster vaccines globally remain in question as CDC (US Centers for Disease Control and Prevention), and WHO (World Health Organization) say booster doses are not needed at this time, citing lack of data.
