When the global demand for a COVID-19 vaccine was at its peak, many pharmaceutical companies raced to be the first to develop one. Amid rigorous testing and research, Moderna emerged as one of the frontrunners in delivering the much-needed vaccine. As a result of this significant achievement, Moderna’s stock has been soaring, with analysts predicting a sustained upward trend for the company.
Currently valued at around $58 billion, Moderna continues to attract attention. Hartaj Singh, the managing director and senior analyst of biotechnology at Oppenheimer & Co., expressed optimism in a recent CNBC interview, suggesting that Moderna’s value could surpass $100 billion in the future.
Singh highlighted Moderna’s success in the coronavirus vaccine market and its plans to introduce flu vaccines in the coming years, potentially creating a $10 billion franchise within the next five to seven years. By applying a 10-times-sales multiple, the company could easily achieve a market cap exceeding $100 billion.
Moderna forecasts $18.4 billion in COVID-19 vaccine sales in 2021 https://t.co/kyM5jOtozD
— CBS News (@CBSNews) February 26, 2021
Recent financial reports indicate Moderna’s Q4 profits reached $571 million, representing a forty-fold increase from the previous year. Despite slightly higher-than-expected net losses, the substantial revenue growth far outweighed the setbacks. This positive performance caused Moderna’s stock to surge by 2.5% at the close of Thursday’s trading session, standing out amidst a challenging market day, where the S&P 500 experienced a similar decline.
