Moderna Inc. (MRNA) shares rose 9.2% on Thursday, making the biotechnology company one of the top performers in the S&P 500.
Investors responded positively to new pipeline updates, encouraging influenza vaccine data, and favorable analyst commentary.
The stock extended its recent rally after climbing to a new annual high on Wednesday.
At one point, shares gained nearly 12% as investors welcomed the company’s latest Science Day presentation and progress across its mRNA development programs.
Investor sentiment also received a boost after an FDA advisory panel unanimously supported Moderna’s mRNA-1010/mFLUSIVA influenza vaccine for adults aged 50 to 64 and those 65 and older.
The recommendation comes ahead of a Prescription Drug User Fee Act (PDUFA) decision expected on Aug. 5, 2026, as well as planned global regulatory filings.
Science Day highlights broader pipeline expansion
During its recent Science Day presentation, Moderna outlined plans to expand its mRNA platform beyond infectious disease vaccines into oncology, autoimmune diseases and other therapeutic areas.
The company showcased programs targeting multiple myeloma, ovarian cancer and in vivo CAR-T therapies, while emphasizing increased use of artificial intelligence, machine learning, automation and robotics to accelerate research and development.
Plans to begin the in vivo CAR-T program mRNA-6007 in 2027 also contributed to investor optimism.
Chief Executive Officer Stéphane Bancel said the company’s strategy extends across multiple areas of development.
Working across three strategic horizons, we are applying our mRNA platform expertise to validate, scale and expand our modalities, with new modalities in the clinic, including T-cell engagers, and new modalities soon to be in the clinic, like in vivo CAR-T. At the same time, we are driving innovation by using data, AI and machine learning, and robotics to accelerate discovery and continuously improve how we execute for near-term growth while fuelling the next generation of mRNA medicines for patients around the world.
Stéphane Bancel CEO, Moderna Therapeutics
Analysts see long-term opportunity
Analysts remained constructive on Moderna’s long-term prospects despite differing views on the pace of commercialization.
Jefferies maintained a Hold rating and a $45 price target, stating that while eventual approval of the influenza vaccine appears likely, meaningful flu-related revenue is not expected until 2027.
Piper Sandler took a more optimistic stance, raising its price target to $77 from $69 while reiterating an Overweight rating following the recent rally.
The positive analyst commentary added to growing optimism surrounding Moderna’s expanding pipeline beyond COVID-19 vaccines.
Financial position remains supported by cash reserves
Despite renewed enthusiasm surrounding its research programs, Moderna continues to operate at a loss as it invests heavily in product development.
The company generated approximately $389 million in quarterly revenue and about $1.94 billion in trailing 12-month revenue.
However, it reported a net loss of roughly $1.34 billion in the latest quarter and an EBITDA loss of approximately $1.28 billion. Free cash flow stood at negative $692 million.
Moderna has approximately $5.21 billion in cash and short-term investments, a current ratio of 2.4 and long-term debt of about $1.25 billion, providing financial flexibility as it continues investing in its pipeline.
CNBC’s Jim Cramer also expressed optimism about the company’s direction.
“For the first time in a long time, the company seems like it has something to get excited about”, Cramer said on Wednesday.
He added that Moderna’s “plethora of thoughtful, new products” is presenting a clear roadmap to profitability for the first time in a long while.
However, Cramer also urged patience, saying, “I recommend waiting for a pullback before you buy. Take your time. I think Moderna’s got a bright future though, but it’ll take years to get there.”
