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

Moderna (NASDAQ:MRNA) posted its quarterly earnings results on Friday. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $1.48, FiscalAI reports. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $890.25 million. Moderna had a negative net margin of 141.43% and a negative return on equity of 28.30%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($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 Price Performance

Shares of NASDAQ MRNA traded up $12.73 during mid-day trading on Friday, reaching $254.19. 16,295,043 shares of the company were exchanged, compared to its average volume of 18,981,452. Moderna has a 52 week low of $22.28 and a 52 week high of $267.50. The company has a quick ratio of 2.18, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $101.48 billion, a PE ratio of -31.81 and a beta of 1.16. The company’s 50 day moving average price is $191.85 and its 200 day moving average price is $91.51.

Insider Activity

In other news, insider Shannon Klinger sold 3,471 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $139.95, for a total transaction of $485,766.45. Following the transaction, the insider directly owned 74,129 shares of the company’s stock, valued at approximately $10,374,353.55. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CFO James M. Mock sold 34,836 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $134.49, for a total value of $4,685,093.64. Following the transaction, the chief financial officer owned 59,375 shares in the company, valued at approximately $7,985,343.75. The trade was a 36.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 197,251 shares of company stock worth $33,875,904. 10.80% of the stock is currently owned by insiders.

Key Moderna News

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MRNA. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $130.00 price objective on shares of Moderna in a research note on Wednesday, August 19th. UBS Group restated a “neutral” rating on shares of Moderna in a research report on Tuesday, September 22nd. Jefferies Financial Group restated a “hold” rating and set a $150.00 target price (up from $60.00) on shares of Moderna in a research report on Wednesday, August 19th. Barclays raised their price target on Moderna from $48.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Finally, Wolfe Research raised shares of Moderna from an “underperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Moderna presently has an average rating of “Hold” and an average price target of $107.10.

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.