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Moderna Stock Notches Another Record As Earnings Obliterate Forecasts 


Moderna stock popped Thursday after the Covid vaccine maker crushed Wall Street’s second-quarter forecasts, and announced a $1 billion stock buyback.




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Further, Moderna (MRNA) raised its full-year outlook and now expects $20 billion in sales, including already reported sales and signed agreements for Covid vaccine doses. This year, Moderna says it can make 800 million to 1 billion doses of the vaccine.

In early action on the stock market today, Moderna stock popped 2.8% and was near 430.60. That reversed a premarket decline following news of the buyback.

During the quarter, Moderna earned $6.46 per share, minus certain items, on $4.35 billion in sales. Moderna earnings flipped from year-earlier losses and sales skyrocketed close to 6,400%. Its Covid vaccine generated close to $4.2 billion of sales. The balance came from grants and collaborations.

Both measures easily beat Moderna stock analysts’ forecasts for $5.96 earnings per share and $4.21 billion in sales.

Moderna Stock: Advancing Other Vaccines

The company is also advancing its flu and respiratory syncytial virus vaccines into late-stage testing, and plans to begin a Phase 3 study of its cytomegalovirus vaccine later this year.

“We believe this is just the beginning,” Chief Executive Stephane Bancel said in a written statement.

For 2022, Moderna has already signed contracts to deliver $12 billion worth of Covid vaccine sales, with options to purchase roughly $8 billion more in doses. Next year, it expects to make 2 billion to 3 billion doses. That number could change based on dose level.

The company says it has also starting signing agreements for 2023 “as forward-looking countries prepare for the endemic phase of Covid-19.”

Early Thursday, Moderna stock hit another record high.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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