MRNA Stock Price, Moderna (NASDAQ: MRNA) stock witnessed a bullish outlook after the company released its first-quarter results. After the release of its Q1 earnings, the company has performed quite better than expected. The revenue was generated from the sales of Moderna’s Covid-19 vaccine product. This revenue report also supported the price surge of MRNA stock. The investors showed less confidence as they were expecting the company would report a loss in Q1 2023. But after the announcement, Moderna Inc. reported positive earnings.
MRNA Stock Price Analysis
In mid-April, active bears in the market pulled down the price of MRNA stock. Due to this, the biotech stock has dropped in the price of almost $130.00. Then near Moderna Inc.’s Q1 results, the stock took a bullish move. On May 4th, when the company released its Q1 earnings and revenue the share price of this biotech stock started following a bullish trend. Active bulls in the market pulled the price of MRNA stock from almost $135.00 to nearly $137.00.
Source: MRNA/USD by Tradingview
On May 5th, the stock closed at the price of $137.04 while the pre-market price of MRNA stock is at $136.20. This clearly shows nearly 0.61% of the drop. However, the RSI of this stock has started showing a bullish trend. The recent closing price of this biotech stock is quite far from its 20-day EMA. The active bulls would try to pull up the price of MRNA stock in its next trading session. However, the pre-market price has already shown a little decline.
Source: Price Target of $MRNA Stock by Tradingview
As shown in the above chart, for MRNA stock the analysts have set their 1-year price target at $216.00. It is nearly 57% up from its recent closing price. Additionally, they are offering 1-year forecasts with a maximum estimate of $430.00 and a minimum estimate of $93.00.
Moderna Inc.’s Q1 Earnings & Revenue Report
On May 4th, Moderna Inc. reported its Q1 2023 earnings and revenue. According to its financial stats and ratios, MRNA stock’s price-to-sales ratio is 3.65. Its EPS for Q1 2023 is $0.19 whereas the estimation was $-1.75 which accounts for a 110.87% surprise. The total revenue of Moderna for Q1 2023 is $1.86 Billion, and it’s 62.94% lower compared to the previous quarter. The net income of Q1 23 is $79.00 Million.
The estimated earnings for Q2 2023 are $-3.82, and revenue is expected to reach $403.81 Million.
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Source: https://www.thecoinrepublic.com/2023/05/08/mrna-stock-price-showed-bullish-outlook-after-its-q1-results/