Moderna (NASDAQ:MRNA) Posts Quarterly Earnings Results, Beats Expectations By $1.48 EPS

Moderna (NASDAQ:MRNA) issued its quarterly earnings data on Friday. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $1.48, FiscalAI reports. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $890.25 million. Moderna had a negative return on equity of 28.30% and a negative net margin of 141.43%. The firm’s revenue was up 29.2% compared to the same quarter last year. During the same period last year, the company earned ($0.51) earnings per share.

Here are the key takeaways from Moderna’s conference call:

• Moderna reported third-quarter revenue of $1.3 billion, up 29% year over year, and net income of $162 million. Stronger-than-expected U.S. and international sales led the company to raise its 2026 revenue growth outlook to 15%–25%, though management said shipment timing also contributed to the quarter’s strength.
• The company lowered its 2026 R&D expense outlook by $200 million and its capital expenditure estimate, while raising its year-end cash and investments forecast to $8.1–$8.3 billion. That cash outlook includes $2.6 billion in net proceeds from convertible notes.
• Moderna and Merck reported Phase III melanoma results for intismeran plus pembrolizumab, showing a 42% reduction in the risk of recurrence or death versus pembrolizumab alone; a treated-patient analysis showed a 49% reduction. The companies are working toward a BLA submission this year, with approval, pricing, and commercialization still ahead.
• Moderna added U.S. approval of its flu vaccine mFLUSIVA and approvals for mFLUSIVA and its flu/COVID combination vaccine in Canada, expanding its commercial respiratory portfolio. The company also reported international progress and said U.S. respiratory vaccinations were slightly ahead of last year overall through late October.
• The Phase III norovirus vaccine study did not meet its interim criteria for early success, and Moderna will not enroll the additional cohort it had previously planned. It is consulting health authorities on next steps and has not provided a revised development plan.

Moderna Stock Up 5.3%

Shares of Moderna stock traded up $12.73 during trading on Friday, reaching $254.19. 16,295,043 shares of the company traded hands, compared to its average volume of 12,652,009. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.18. Moderna has a 1-year low of $22.28 and a 1-year high of $267.50. The company has a 50 day moving average price of $189.62 and a 200-day moving average price of $90.46. The firm has a market capitalization of $101.48 billion, a PE ratio of -31.81 and a beta of 1.16.

Analyst Upgrades and Downgrades

MRNA has been the topic of a number of recent analyst reports. Rothschild & Co Redburn downgraded shares of Moderna from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $40.00 to $81.00 in a research report on Thursday, September 3rd. CLSA upgraded Moderna to an “outperform” rating in a report on Friday, August 28th. Jefferies Financial Group reissued a “hold” rating and issued a $150.00 price objective (up from $60.00) on shares of Moderna in a research report on Wednesday, August 19th. Argus raised Moderna from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Friday, August 28th. Finally, UBS Group restated a “neutral” rating on shares of Moderna in a research report on Tuesday, September 22nd. Six analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $107.10.

Moderna News Summary

Here are the key news stories impacting Moderna this week:

• Positive Sentiment: Moderna reported third-quarter revenue of $1.31 billion, up 29.2% year over year, and earnings of $0.38 per share, far ahead of analysts’ expectations for a loss. Stronger overseas COVID-19 vaccine sales helped drive the results. Reuters report on revenue and demand
• Positive Sentiment: Management raised its 2026 revenue-growth forecast to 15%–25%, from a prior outlook of up to 10%. The company also said it plans to reduce research and development spending, supporting its near-term financial performance. CNBC outlook report
• Positive Sentiment: Health Canada authorized Moderna’s seasonal flu and flu-COVID combination vaccines for adults 50 and older, opening a potential new market for its mRNA products. CBC report on Canadian approvals
• Positive Sentiment: Investors are also watching prospects for Moderna’s cancer vaccine: CEO Stéphane Bancel said it could have potential beyond melanoma. That adds pipeline excitement, though future commercial value remains uncertain. Yahoo Finance report on cancer vaccine prospects
• Neutral Sentiment: Moderna and GSK settled a patent dispute involving Moderna’s COVID and RSV shots. The settlement removes a source of legal uncertainty, but the available report does not specify its financial terms. Reuters report on patent settlement
• Negative Sentiment: The sharp rally has heightened concerns that expectations for the cancer-vaccine pipeline may be running ahead of near-term revenue potential. Moderna’s longer-term prospects still depend on sustaining vaccine sales and turning pipeline advances into commercial products. Barron’s analysis of Moderna’s earnings and valuation

Insider Buying and Selling

In other news, insider Shannon Klinger sold 3,471 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $139.95, for a total transaction of $485,766.45. Following the transaction, the insider owned 74,129 shares in the company, valued at approximately $10,374,353.55. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Hoge sold 40,294 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $144.13, for a total transaction of $5,807,574.22. Following the transaction, the president owned 1,525,858 shares in the company, valued at $219,921,913.54. This represents a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 197,251 shares of company stock valued at $33,875,904 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

About Moderna

Moderna, Inc is a biotechnology company that develops medicines and vaccines using messenger RNA (mRNA) technology. Its platform is designed to instruct cells to produce proteins that can help prevent or treat disease.

The company’s commercial products include Spikevax, a vaccine against COVID-19, and mRESVIA, a vaccine against respiratory syncytial virus (RSV). Moderna also researches potential mRNA-based vaccines and treatments for infectious diseases, cancer, and rare diseases.

Founded in 2010 as Moderna Therapeutics, the company is headquartered in Cambridge, Massachusetts.