2024-02-20 09:00:00 ET
Summary
- Moderna has surged 40% from its November 2023 lows through last week's close. Buyers returned to buy the "bad news" from its Q3 earnings reset.
- The recent worse-than-anticipated data release for its RSV vaccine contributed to a recent pullback in MRNA.
- However, it shouldn't affect the anticipated FDA approval for its RSV vaccine in 2024.
- Moderna investors can expect a more aggressive product rollout over the next two years, potentially benefiting longer-term investors.
- I explain why MRNA's long-term bottom in November 2023 suggests the recovery has already started.
Moderna Stock Has Surged From Its November Lows
Moderna, Inc. (MRNA) investors head into MRNA's pivotal fourth-quarter earnings release on February 22 with bated breath. Following Moderna's third-quarter earnings release in early November 2023, MRNA bottomed out as buyers returned. As a result, it does seem like MRNA could have taken out its long-term lows, as Moderna reset its COVID revenue expectations at its FQ3 scorecard. I last updated MRNA investors in my September 2023 article , seeing an opportunity to remain bullish. However, I also highlighted uncertainties relating to its pipeline, underscoring that MRNA could remain as a "show me" story. Therefore, healthcare investors are expected to stay cautious, although I was confident it could emerge from its battering....
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Buy Moderna's Turnaround Thesis While Market Pessimism Lasts