Moderna Stands Firm on 2023 Sales Forecast Amid Market Volatility
Moderna Holds Steady Despite Market Turbulence
Moderna Inc., a leading biotechnology company, is confidently maintaining its sales predictions for 2023 despite the market instability caused by Pfizer Inc.’s updated COVID-19 guidelines. According to Moderna’s August earnings report, they expect COVID-19 sales to range between $6 billion and $8 billion. This optimistic outlook comes in the face of analysts’ predictions of a sales decline for Moderna this year and a drop in net income.
Moderna’s Confidence in Sales Forecast
Despite the challenges in estimating annual vaccination rates due to the ongoing U.S. vaccination season, Moderna is planning to provide an updated perspective on the projected U.S. market size by the end of October. Any potential modifications to their sales forecast will be disclosed during their quarterly results announcement scheduled for November 2.
Moderna’s unwavering confidence in its projections is evident amidst the market’s uncertainty surrounding Pfizer’s revised COVID guidance. This confidence is further reflected in Moderna’s aggressive share buyback strategy. The company’s determination to hold firm on its 2023 outlook demonstrates its ability to navigate through these turbulent times.
Anticipation for Updated Outlook
As we approach the end of October, industry watchers eagerly await Moderna’s updated outlook on the U.S. market size and any potential amendments to their sales forecast in early November. This valuable information could provide critical insights into the trajectory of the U.S. vaccination campaign and Moderna’s role within it.
Earnings Date and Market Performance
Moderna’s next earnings date is set for November 2, 2023, according to InvestingPro Data. As the date approaches, the company’s financial performance will be closely scrutinized. With a current market cap of $34.71 billion and a P/E ratio of 29.08, Moderna’s stock price has experienced a total return of -18.99% over the last three months, reflecting the volatility observed by InvestingPro Tips.
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