COVID-19 introduced a race for a vaccine between biotechnology companies, but how does Moderna stock rate now that the pandemic is largely in the rearview mirror?
Moderna Inc. (Nasdaq: MRNA) is a biotech company that is at the forefront of developing mRNA-based therapeutics and vaccines for human diseases.
Founded in 2010, the company went public in 2018 and has been gaining momentum ever since.
In this article, we’ll take a deep dive into Moderna’s history, current business operations and outlook for 2023.
We’ll also look at Moderna stock through Adam O’Dell’s proprietary Stock Power Ratings system.
History of Moderna
Moderna was founded by a team of scientists from Harvard Medical School and The Whitehead Institute.
The scientists sought to create an innovative approach to drug development using messenger RNA (mRNA) technology.
The company started out as a research venture focused on discovering potential treatments for cancer and other diseases.
By 2013, it had developed its first drug candidate and launched clinical trials in humans in 2015.
Since then, the company has gone through several rounds of fundraising and landed several high-profile partnerships with other pharmaceutical companies, including AstraZeneca and Merck & Co.
Today, Moderna is one of the leading biotechnology companies working on mRNA-based therapies for human diseases. And Moderna stock is a leader among biotech companies.
Its pipeline includes more than 35 different therapeutic candidates for various indications ranging from cancer to infectious diseases to cardiovascular disorders.
The company also continues to work on its vaccine technology platform which has already resulted in two successful vaccine candidates — the COVID-19 vaccine developed with the National Institute of Health (NIH) and its seasonal flu vaccine candidate which is currently in Phase 1 clinical studies.
Outlook for 2023
With so many promising developments underway, 2023 looks like it could be a big year for Moderna.
The company hopes to have several drugs approved by the FDA this year, including its lead drug candidate — an mRNA therapy designed to treat rheumatoid arthritis — as well as its seasonal flu vaccine candidate which is expected to complete Phase 3 clinical studies later this year.
Additionally, the company has plans to expand its manufacturing capabilities in order to meet increasing global demand for its products.
It will also continue developing novel therapies using its proprietary mRNA technology platform.
Does that mean Moderna stock is a good investment for 2023? Here’s what our system says.
Moderna Stock Power Ratings
Moderna stock rates a “Bullish” 70 out of 100 within Stock Power Ratings. That means the stock is expected to outperform the broader market by 2X over the next 12 months.
Moderna stock enjoyed a massive wave of buying throughout the pandemic as it developed its COVID-19 vaccine.
The stock peaked at almost $450 per share back in September 2021, and then sold off for about a year.
Now its gaining momentum again. Shares are 25% higher over the last six months, and that’s why it boasts a solid 64 on our momentum factor.
Its share price is at a reasonable value now as well. It trades at a 7.4 price-to-earnings-ratio, which is partly why it scores a 65 out of 100 on value.
Bottom line: Moderna is one of the most exciting biotechnology companies working today due their innovative approach to drug development using messenger RNA technology.
With numerous therapeutic candidates already in late stage clinical trials and a plan for expanding manufacturing capabilities in order to meet global demand for their products, it has going for it.
And Moderna stock scores a “Bullish” 70 on our system, which means its set to outperform.
P.S. If you haven’t had a chance to watch Adam’s “Imperium” presentation yet, click here to do so now. You’ll find out why he’s convinced that the genomics revolution will be bigger than the internet.