Moderna Share Price Forecast July 2021 – Time to Buy MRNA?
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Shares of biopharma company Moderna(NASDAQ: MRNA) have experienced quite the gain in recent months ever since the company emerged as a primary COVID-19 vaccine provider. With its shares increasing by 124.9% during 2021’s first half, investors have started taking notice of MRNA shares as vaccination drives start all over the world.
Moderna – Technical Analysis
Moderna’s financial statement reveals a market cap of $99.041 billion with total assets worth $12.694 billion. Moderna’s revenue for 2020 was at $803.39 million compared to 2019’s $60.21 million. MRNA shares closed on July 14th at $246.66 with an uptrend of 4.89%. This is its record closing high on the back of health officials warning about successive COVID-19 waves.
Moving over to the technical information, Oscillators for Moderna such as Stochastic RSI Fast (3, 3, 14, 14)(67.47), Williams Percent Range (14)(−8.94), Bull Bear Power(24.23) and Ultimate Oscillator (7, 14, 28)(67.74) are pointing towards a neutral action. On the other hand, moving averages such as Volume Weighted Moving Average (20)(223.90) and Hull Moving Average (9)(240.81) are pointing towards buying.
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Recent Developments
Moderna along with other industry giants such as BioNTech, Pfizer, Novavax and Johnson & Johnson are the current core suppliers of the COVID-19 vaccine. The FDA approved Moderna’s mRNA-1273 for emergence use in December 2021. However, investors were already in line to invest in the company before it received the green light from regulators.
Moderna has continued its effort to expand on the potential of its vaccine as well as participate in other vaccine trials and treatment options. Other projects on the way for Moderna include its mRNA testing for treating cardiovascular and autoimmune diseases along with treating cancer. The company’s product revenue grew to $1.7 billion for the first three months this year mostly as a result of vaccine sales.
Should You Buy MRNA Shares?
With no end in sight for the pandemic, shares of MRNA soared by nearly 900% since the outbreak. However, investors may need to start planning for an exit plan. However, Moderna has a lot of advantages. Its effort and potential are fully priced into the shares and are well-publicised.
Moderna will receive another recurring source of revenue if the booster vaccines turn out to be needed on a regular basis. The company’s highly regarded R&D department will be funded by its related revenue. The company has a well-stocked pipeline of vaccines and treatment options for a variety of illnesses and diseases. CEO Stéphane Bancel estimated that Moderna can have as many as sixty drugs undergoing clinical trials within the next few years. Investors can thus expect even larger gains in the future if these drug programs succeed.
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