Financial analysts on Wall Street, as monitored by Bloomberg, are anticipating that the company will unveil a loss of slightly over $9 per share for the fiscal year 2024, with sales expected to decrease by half compared to the previous year. Despite a recent increase in share value, Moderna shares remain down nearly 60% from the previous year. More than half of the analysts tracked by Yahoo Finance have assigned a Hold rating to the stock, but on average, they predict shares to climb to $74 within the next 12 months, signifying a potential 56% increase from the current level.
In response to news of a bird flu-related fatality, stocks in companies engaged in the development of an mRNA bird flu vaccine experienced a surge. Novavax (NVAX) saw a substantial gain of almost 11% on Tuesday, while German biotech company CureVac (CVAC) also experienced a rise of over 4%. CureVac is collaborating with the Indian pharmaceutical behemoth GlaxoSmithKline (GSK) (GLAXO.BO) in the development of an mRNA bird flu vaccine. Pfizer (PFE) observed a more modest increase of 0.9%, whereas GSK witnessed a decline of 1%.
Vaccine manufacturers received a boost earlier in the week following an increase in reported COVID-19 cases by the Centers for Disease Control and Prevention (CDC).
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