Will Moderna Stock Drop to $25? 1 Wall Street Analyst Thinks So.
In the dark days of the coronavirus pandemic, Moderna (NASDAQ: MRNA) was a ray of light in more ways than one. The healthcare company's innovative Spikevax was one of the go-to vaccines that sped to market, not only protecting hundreds of millions of people from COVID-19, but also producing gobs of revenue and healthy profits.That was a hard act to follow, and ever since the public health crisis ended, Moderna's stock has languished. One Wall Street analyst recently cut her price target on the stock, reiterating her sell recommendation at the same time.Wolfe Research's Alexandria Hammond now feels Moderna will be trading at around $25 per share a year from now, well down from her previous price target of $35. That new level is 30% below the pharmaceutical stock's closing price Tuesday. Hammond kept her underperform (read: sell) rating on the stock intact.Continue reading
In the dark days of the coronavirus pandemic, Moderna (NASDAQ: MRNA) was a ray of light in more ways than one. The healthcare company's innovative Spikevax was one of the go-to vaccines that sped to market, not only protecting hundreds of millions of people from COVID-19, but also producing gobs of revenue and healthy profits.
That was a hard act to follow, and ever since the public health crisis ended, Moderna's stock has languished. One Wall Street analyst recently cut her price target on the stock, reiterating her sell recommendation at the same time.
Wolfe Research's Alexandria Hammond now feels Moderna will be trading at around $25 per share a year from now, well down from her previous price target of $35. That new level is 30% below the pharmaceutical stock's closing price Tuesday. Hammond kept her underperform (read: sell) rating on the stock intact.
