#1 - Moderna (NASDAQ:MRNA)
Moderna (NASDAQ:MRNA) is first on this list of health care stocks to buy. And it’s not because the company is likely to continue to generate significant revenue from its Covid-19 vaccine. In fact, the company recently announced it would be building its first vaccine facility in Africa.
However, what the vaccine has done is to shed a light on the company’s work with messenger ribonucleic acid (mRNA). Moderna’s ultimate objective is to develop a series of transformative medicines based on mRNA. And the company has a manufacturing plant that will allow it to produce at scale.
MRNA stock is up 8% in the last 12 months. However, it’s down 65% from its 52-week high, and right now the stock appears to be undervalued with strong long-term growth prospects. The stock does not have a high short interest ratio. However, a significant number of investors appear to be shorting the stock. Much of this has to do with ongoing concern about the safety of its Covid-19 vaccine. On the other hand, institutional ownership continues to increase, albeit at a slower pace.
And while MRNA stock does not look oversold from a technical level, analysts give the stock a consensus price target of $235.15, which is a 38% upside.
About Moderna
Moderna, Inc, a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, influenza, and respiratory syncytial virus, spikevax, and hMPV/PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella zoster virus, and human immunodeficiency virus vaccines; public health vaccines consists of Zika, Nipah, Mpox vaccines; and infectious diseases vaccines, such as lyme and norovirus vaccines.
Read More - Current Price
- $132.90
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 9 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $126.46 (4.8% Downside)
