Banking

Moderna Crashes As Sales Lag Estimates In First Profitable Quarter

Moderna stock crashed on Thursday after the company reported adjusted earnings of $2.84 per share on $1.9 billion in sales for its first quarter.




X



On average, analysts polled by FactSet expected Moderna (MRNA) to earn $2.39 per share on $2.06 billion in sales.

In the year-earlier period, Moderna lost 35 cents per share and reported $8.4 million in sales. That was before Moderna launched its Covid-19 vaccine, its first-ever commercial product.

For the year, the biotech company expects $19.2 billion in sales. Analysts called for adjusted income of $23.06 per share and $17.1 billion in sales.

In premarket trading on the stock market today, Moderna stock tumbled 8.8% near 148.20. Moderna stock is eyeing a buy point at 189.36 out of a cup base, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

YOU MAY ALSO LIKE:

InMode Stock Rises After IBD 50 Stalwart Posts Triple-Digit Profit Growth

Jazz Expects To Buy GW Pharma — This Month — And Eyes Breakout

Options Trading: How To Start Using Options, How To Manage Risk

Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks

Get Full Access To IBD Stock Lists And Ratings



Most Related Links :
nativenewspost Governmental News Finance News

Source link

Back to top button