moderna-stock-surges-after-covid-vaccine-sales-obliterate-expectations

Moderna Stock Surges After Covid Vaccine Sales Obliterate Expectations

Moderna stock jumped early Wednesday after the biotech company reported earnings of $5.24 per share on $4.75 billion in sales.

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That included $4.53 billion from Moderna’s Covid vaccine, Spikevax. The remaining revenue came from grants and collaborations.

On average, analysts polled by FactSet expected Moderna (MRNA) earnings of $4.58 per share and $4.1 billion in sales. In the year-earlier period, Moderna earned $6.46 per share and reported $4.35 billion in sales.

For the year, Moderna predicts $21 billion in sales, based on already signed agreements from its Covid vaccine. Moderna stock analysts forecasted income of $27.85 per share and $22.2 billion in sales.

In premarket trades on today’s stock market, Moderna stock leaped 4.4%, trading near 167.90.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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