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 stockCopy link to section
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.
They’re literally the leader in mRNA therapeutics. Moderna will most likely solve very complex diseases with its mRNA therapeutics going forward. They’re in the lead in manufacturing, pre-clinical and clinical development.
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 storyCopy link to section
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:
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Looking to invest?
Invest globally in stocks, options, futures, currencies, bonds and funds from a single unified platform, with our highest-rated broker.
If you’re a believer of mRNA therapeutics being a fairly large segment ($100 billion to $150 billion) of therapeutics sales five or ten years from now, you should keep owning Moderna and maybe even buy some on extreme dips.
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.
Copy expert traders easily with eToro. Invest in stocks like Tesla & Apple. Instantly trade ETFs like FTSE 100 & S&P 500. Sign-up in minutes.
eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.