Moderna shares are trading lower after the company on Thursday revised its 2024 expectations citing low EU sales, potential revenue deferrals for certain international sales into 2025 and an 'increasingly competitive environment' for respiratory vaccines in the US. Multiple analysts lowered their respective price targets on the stock following the report.
Portfolio Pulse from Benzinga Newsdesk
Moderna shares are trading lower after the company revised its 2024 expectations due to low EU sales, potential revenue deferrals, and increased competition in the US respiratory vaccine market. Multiple analysts have lowered their price targets on the stock.
August 02, 2024 | 4:58 pm
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Moderna shares are trading lower after the company revised its 2024 expectations due to low EU sales, potential revenue deferrals, and increased competition in the US respiratory vaccine market. Multiple analysts have lowered their price targets on the stock.
The revision of 2024 expectations by Moderna, citing low EU sales, potential revenue deferrals, and increased competition in the US, is a significant negative development. This has led to a drop in share price and multiple analysts lowering their price targets, indicating a likely short-term negative impact on the stock.
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