Moderna stock remains a great pick for long-term investors: Analyst

Moderna Inc (NASDAQ: MRNA) has taken a big hit over the past seven weeks, which, as per an Oppenheimer analyst, is a fantastic opportunity for the long-term investors.

Reasons to own the Moderna stock

At a price-to-earnings multiple of just over four, the biotech firm is quite attractive in terms of valuation. But Hartaj Singh is bullish on the “fundamental” story here as well.

This morning on CNBC’s “Squawk on the Street”, he recommended that investors buy Moderna stock despite the near-term challenges.

Singh is bullish on Moderna even after New York terminated the vaccine mandate for private sector and student athletes on Tuesday.

Moderna is a five-to-ten-year story

In its latest reported quarter, the Massachusetts-headquartered company took a $500 million hit on expiring COVID shots. The Oppenheimer analyst agrees such challenges will continue in the near-term (six to eighteen months) but said:

Singh has confidence in the management team at Moderna as well. Despite the post-COVID struggles, the Nasdaq-listed firm reported better-than-expected profit and revenue for its Q2 in August.

Wall Street has a consensus “overweight” rating on the Moderna stock as well.