What's Going On With Moderna Stock?
Portfolio Pulse from Adam Eckert
Moderna Inc's shares continue to trade lower following Pfizer Inc's warning about reduced Covid-19 product demand. Pfizer slashed its full-year 2023 sales outlook from $67 billion-$70 billion to $58 billion-$61 billion, causing shares of several Covid vaccine makers, including Moderna, to slide. Despite this, Moderna reaffirmed its $6 billion-$8 billion forecast for Covid vaccine sales for the year.
October 17, 2023 | 1:52 pm
News sentiment analysis
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NEGATIVE IMPACT
Moderna's shares are trading lower due to Pfizer's reduced Covid-19 product demand forecast. However, Moderna reaffirmed its $6 billion-$8 billion forecast for Covid vaccine sales for the year.
Moderna's stock is being negatively impacted by Pfizer's reduced forecast for Covid-19 product demand. Despite this, Moderna has reaffirmed its own sales forecast, indicating confidence in its own market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Pfizer's shares may be impacted by its reduced full-year 2023 sales outlook from $67 billion-$70 billion to $58 billion-$61 billion due to waning demand for Covid-related products.
Pfizer's reduced sales outlook for 2023 due to waning demand for Covid-related products is likely to negatively impact its stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100