Wall Street advances as traders' bets rise for bigger Fed rate cut By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 13 2024
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Source: Investing.com
Market Reaction to Interest Rate Speculation: Wall Street's main indexes rose as investors increased bets on a potential 50-basis point interest rate cut by the Federal Reserve, with small-cap stocks outperforming due to their sensitivity to interest rate changes.
Sector Performance and Company News: All S&P 500 sectors saw gains, led by materials stocks; however, Adobe and Boeing faced declines after disappointing forecasts and labor disputes, respectively, while Uber experienced a significant rise following its autonomous ride-hailing announcement.
Analyst Views on MRNA
Wall Street analysts forecast MRNA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRNA is 29.36 USD with a low forecast of 17.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
1 Buy
14 Hold
4 Sell
Hold
Current: 51.870
Low
17.00
Averages
29.36
High
63.00
Current: 51.870
Low
17.00
Averages
29.36
High
63.00
About MRNA
Moderna, Inc. is a biotechnology company. The Company is advancing a new class of medicines made of messenger ribonucleic acid (mRNA). It is developing therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane or secreted proteins that have a therapeutic or preventive benefit with the potential to address a spectrum of diseases. The Company’s diverse development pipeline consists of 44 therapeutic and vaccine programs, 11 of which are in late-stage development. Its commercial products include Spikevax (its COVID vaccine) and mRESVIA (its respiratory syncytial virus (RSV) vaccine). Additionally, it has achieved four positive Phase III data readouts for its COVID vaccine (mRNA-1283), its RSV vaccine for high-risk adults aged 18 to 59 (mRNA-1345), its seasonal flu+COVID vaccine (mRNA-1083), and its seasonal flu vaccine (mRNA-1010).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
