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These Analysts Cut Their Forecasts On Moderna After Q3 Results

Moderna Inc (NASDAQ: MRNA) posted a loss for the third quarter on Thursday.
byLisa Levin
November 3, 2023
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Moderna Inc (NASDAQ:MRNA) posted a loss for the third quarter on Thursday.

Moderna reported a quarterly loss of $(9.53), down from EPS income of $2.53. The analysts’ estimate stood at $(1.93). The company’s sales reached $1.8 billion (all from COVID-19 vaccine), beating the consensus of $1.4 billion and down from $3.4 billion a year ago.

Moderna shares gained 9.1% to trade at $77.70 on Friday.

These analysts made changes to their price targets on Moderna following earnings announcement.

HSBC lowered the price target on Moderna from $89 to $69. HSBC analyst Yifeng Liu upgraded the stock from Reduce to Hold.

Goldman Sachs cut the price target on Moderna from $269 to $231. Goldman Sachs analyst Salveen Richter maintained a Buy rating.

Now Read This: Top 4 Financial Stocks That May Collapse This Quarter

 
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