Biotechnology company Moderna (NASDAQ: MRNA) will be announcing earnings results this Friday before market hours. Here’s what investors should know.
Moderna beat analysts’ revenue expectations last quarter, reporting revenues of $389 million, up 260% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates.
Is Moderna a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Moderna’s revenue to decline 24.8% year on year, improving from the 41.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Moderna rarely misses Wall Street’s revenue estimates.
Looking at Moderna’s peers in the biotechnology segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Biogen delivered year-on-year revenue growth of 3.4%, beating analysts’ expectations by 12.1%, and Incyte reported revenues up 37.7%, topping estimates by 11.3%. Incyte traded up 6.9% following the results.
Read our full analysis of Biogen’s results here and Incyte’s results here.
There has been positive sentiment among investors in the biotechnology segment, with share prices up 4.9% on average over the last month. Moderna is down 21.8% during the same time and is heading into earnings with an average analyst price target of $49.37 (compared to the current share price of $54.80).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
