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Moderna $MRNA

Health Care · Biotechnology · NASDAQ

S&P 500 Nasdaq-100 Russell 1000 Massachusetts

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$229.16

+2.27 (+1.00%)

As of Oct 20, 2026, 11:22 AM EDT · cached

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Aug 19, 2026, the first target we tracked for MRNA.

Key facts

52-week range (closes): $22.36 – $225.00 Lowest close Nov 20, 2025, highest Oct 9, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Fiscal year ends: December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since: Jul 21, 2021, replacing Alexion Pharmaceuticals (ALXN) · AstraZeneca acquired Alexion Pharmaceuticals. · All S&P 500 changes
In the Nasdaq-100 since: Oct 9, 2026, replacing Warner Bros. Discovery (WBD) · Warner Bros. Discovery was acquired by Paramount Skydance. The combined entity, Skydance Corporation, is listed on the NYSE. · All Nasdaq-100 changes
IPO: Dec 7, 2018 · priced at $23.00 · NASDAQ · IPO details
Analyst coverage: 4 open price targets from 4 firms: Bank of America, Citi, Morgan Stanley, Rothschild & Co Redburn Approved targets tracked here; see the analyst section below

Moderna (MRNA) is trading up at $229.16 (+1.00%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Health Care sector.

Analyst price targets on MRNA

Current price targets from 4 firms average $105, median $85, ranging from $80 to $170 — the average is 54% below the current $229. Each is tracked to its date and scored the same way a member's call is.

Citi $193 → $80 by Sep 2027 Sell Sep 30, 2026 via 247wallst.com · Citi's track record
Rothschild & Co Redburn $149 → $81 by Sep 2027 Sell Sep 3, 2026 via Investing.com · Rothschild & Co Redburn's track record
Morgan Stanley $174 → $89 by Aug 2027 Equalweight Aug 19, 2026 via Investing.com · Morgan Stanley's track record
Bank of America $174 → $170 by Aug 2027 Neutral Aug 19, 2026 via Investing.com · Bank of America's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Moderna revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Moderna annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$108.4M	$205.8M	$135.1M	$60.2M	$803.0M	$18.5B	$19.3B	$6.85B	$3.24B	$1.94B
Growth (year over year)	—	+89.9%	−34.4%	−55.4%	+1233.7%	+2200.2%	+4.3%	−64.4%	−52.7%	−39.9%
Gross profit	—	—	$135.1M	$60.2M	$795.0M	$15.9B	$13.8B	$2.15B	$1.77B	$1.08B
Gross margin	—	—	100.0%	100.0%	99.0%	85.8%	71.9%	31.5%	54.8%	55.3%
Operating income	−$223.8M	−$269.4M	−$413.3M	−$546.0M	−$763.0M	$13.3B	$9.42B	−$4.24B	−$3.94B	−$3.07B
Operating margin	−206.4%	−130.9%	−306.0%	−906.8%	−95.0%	72.0%	48.9%	−61.9%	−121.9%	−158.1%
Net income	−$216.2M	−$255.9M	−$384.7M	−$514.0M	−$747.0M	$12.2B	$8.36B	−$4.71B	−$3.56B	−$2.82B
Net margin	−199.5%	−124.3%	−284.8%	−853.7%	−93.0%	66.1%	43.4%	−68.8%	−110.0%	−145.2%
EPS (diluted)	−$3.79	−$4.18	−$4.95	−$1.55	−$1.96	$28.29	$20.12	−$12.33	−$9.28	−$7.26
Balance sheet
Cash and equivalents	$50.1M	$134.9M	$658.4M	$236.0M	$2.62B	$6.85B	$3.21B	$2.91B	$1.93B	$2.60B
Total assets	—	$1.08B	$2.02B	$1.59B	$7.34B	$24.7B	$25.9B	$18.4B	$14.1B	$12.3B
Total liabilities	—	$459.2M	$431.9M	$414.6M	$4.78B	$10.5B	$6.74B	$4.57B	$3.24B	$3.69B
Long-term debt	—	—	—	—	—	—	—	—	$0	$590.0M
Shareholders' equity	−$334.8M	−$551.4M	$1.53B	$1.18B	$2.56B	$14.1B	$19.1B	$13.9B	$10.9B	$8.65B
Cash flow
Operating cash flow	$66.7M	−$331.5M	−$330.9M	−$459.0M	$2.03B	$13.6B	$4.98B	−$3.12B	−$3.00B	−$1.87B
Capital expenditure	$33.1M	$58.4M	$105.8M	$32.0M	$68.0M	$284.0M	$400.0M	$707.0M	$1.05B	$192.0M
Free cash flow	$33.6M	−$389.9M	−$436.6M	−$491.0M	$1.96B	$13.3B	$4.58B	−$3.83B	−$4.05B	−$2.06B
Share buybacks	—	—	—	$0	$0	$857.0M	$3.33B	$1.15B	$0	$2.00M

RevenueNet incomeNet margin (right axis, %)

Moderna quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$1.86B	$966.0M	$108.0M	$142.0M	$1.02B	$678.0M	$389.0M	$145.0M
Growth (year over year)	+1.7%	−65.6%	−35.3%	−41.1%	−45.4%	−29.8%	+260.2%	+2.1%
Gross profit	$1.35B	$227.0M	$18.0M	$23.0M	$809.0M	$226.0M	−$566.0M	$52.0M
Gross margin	72.4%	23.5%	16.7%	16.2%	79.6%	33.3%	−145.5%	35.9%
Operating income	−$70.0M	−$1.25B	−$1.05B	−$907.0M	−$260.0M	−$857.0M	−$1.39B	−$815.0M
Operating margin	−3.8%	−129.0%	−972.2%	−638.7%	−25.6%	−126.4%	−356.8%	−562.1%
Net income	$13.0M	−$1.12B	−$971.0M	−$825.0M	−$200.0M	−$826.0M	−$1.34B	−$782.0M
Net margin	0.7%	−115.9%	−899.1%	−581.0%	−19.7%	−121.8%	−345.2%	−539.3%
EPS (diluted)	$0.03	−$2.91	−$2.52	−$2.13	−$0.51	−$2.10	−$3.40	−$1.97
Balance sheet
Cash and equivalents	$1.64B	$1.93B	$1.62B	$1.28B	$1.13B	$2.60B	$1.91B	$1.72B
Total assets	$15.8B	$14.1B	$12.7B	$12.0B	$12.1B	$12.3B	$11.5B	$11.0B
Total liabilities	$3.88B	$3.24B	$2.64B	$2.61B	$2.81B	$3.69B	$4.08B	$4.20B
Long-term debt	—	$0	—	—	—	$590.0M	$590.0M	$591.0M
Shareholders' equity	$11.9B	$10.9B	$10.1B	$9.40B	$9.33B	$8.65B	$7.41B	$6.76B
Cash flow
Operating cash flow	−$1.57B	$825.0M	−$1.04B	−$919.0M	−$847.0M	$930.0M	−$630.0M	−$526.0M
Capital expenditure	$151.0M	$522.0M	$117.0M	$3.00M	$33.0M	$39.0M	$62.0M	$37.0M
Free cash flow	−$1.72B	$303.0M	−$1.15B	−$922.0M	−$880.0M	$891.0M	−$692.0M	−$563.0M
Share buybacks	$0	$0	—	—	—	—	—	—

From Moderna's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Moderna vs the Health Care sector and the S&P 500

Moderna's latest reported figures next to the median of the other 59 S&P 500 Health Care companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Moderna compared with the median Health Care company and the median S&P 500 company
Measure	Moderna	Health Care (59 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	−39.9%	+7.2%	+7.0%
Net margin, latest fiscal year	−145.2%	13.1%	13.0%
Share price change, 1 year	+732.9%	+19.8%	+5.6%

Moderna: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 20, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Moderna included, are the last regular-session prices of October 19, 2026; the 1-year change compares that price with each company's last close on or before October 20, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 59/496, net margin 59/496, 1-year price change 59/490; the reasons below can overlap. 12 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Moderna

Moderna, Inc. is an American pharmaceutical and biotechnology company based in Cambridge, Massachusetts, that focuses on RNA therapeutics, primarily mRNA vaccines. These vaccines use a copy of a molecule called messenger RNA (mRNA) to carry instructions for proteins to produce an immune response. The company's name is derived from the terms "modified", "RNA", and "modern".

Source: Wikipedia — Moderna