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Moderna $MRNA

Health Care · Biotechnology · NASDAQ

S&P 500 Nasdaq-100 Russell 1000 Massachusetts

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$226.30

+10.05 (+4.65%)

As of Oct 15, 2026, 1:45 AM EDT

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.

Moderna (MRNA) is trading up at $226.30 (+4.65%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Health Care sector.

IPO: December 7, 2018 · $23.00 offering · NASDAQ · View IPO details →

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 $226. 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 →

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