Shares of Moderna fell by 12% after lowering vaccine sales forecasts
Moderna stock quote today has lowered its annual sales forecast for the COVID-19 vaccine. Investors reacted to the news with mass sales of the biotech company Moderna (MRNA) shares falling by 12.4% to $303 per paper at the preliminary auction of the NASDAQ stock exchange. The drop had decreased to 11%, and the price recovered to $307.8 per share.
Sales securities began after Moderna reported for the third quarter and also lowered the forecast for sales of the COVID-19 vaccine for 2021 to the level of $ 15-18 billion. The company had previously forecast sales of $20 billion. This year, vaccine supplies will range from 700 million to 800 million doses.
The previous forecast for supplies was 0.8-1 billion doses. The company’s revenue for the third quarter reached $5 billion compared to $157 million for the same period in 2020. Refinitiv analysts had expected a figure of $6.49 billion. In three months, the company sold 208 million doses of the COVID-19 vaccine.
Moderna’s third-quarter profit was $3.3 billion, or $7.7 per share. The company noted that more extended deadlines for international orders may shift some vaccine deliveries to 2022. Moderna also stated that it has contracts to supply a vaccine for 2022 for $17 billion. The company expects revenue of $17-22 billion next year. Earlier this week,
Moderna’s competitor Pfizer raised its COVID-19 vaccine sales forecast for 2021 to $36 billion. In 2022, the company plans to receive about $29 billion from the sale of vaccines.
Shares of Moderna reached a historic high at auction on August 10 — $497.49. securities experienced several severe declines after adverse events for the company: the European regulator’s report on the vaccine’s side effects, the delay in approving the vaccine for children, the creation by Merck of the antiviral drug Molnupiravir for the treatment of coronavirus infection.
On Wall Street, the prospects of Moderna are neutral and positive: according to The Market Reporter analysts assigned the company’s shares a rating of “buy,” one — “better than the market,” five — “hold,” one — “worse than the market” and four — “sell.” The consensus price forecast is $332.8 in the future of the year.
