Moderna rises on Q4 results: Focus on the pipeline, analyst says

02/22/2024 23:23

Moderna (MRNA) shares surged in early trading on Thursday after posting better-than-expected fourth-quarter results. The biotech company reported a surprise profit in the quarter, with CEO Stéphane Bancel telling Yahoo Finance Live that "last year was a transition year" for the company. Oppenheimer & Co. Biotechnology Analyst Hartaj Singh argues that investors should focus less on the Covid-19 business and more on the company's pipeline, given that this should be "a trough year" for Covid-19 vaccine revenues. Singh believes that over the next 6 to 9 months, there will be "a relentless discussion" around the company's pipeline, which he says is "great" given that he thinks "this should be a five-product company in 2026." Watch the video above to hear why Singh says Moderna is the "kind of stock you want to own." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich.

Oppenheimer & Co. Biotechnology Analyst Hartaj Singh argues that investors should focus less on the Covid-19 business and more on the company's pipeline, given that this should be "a trough year" for Covid-19 vaccine revenues. Singh believes that over the next 6 to 9 months, there will be "a relentless discussion" around the company's pipeline, which he says is "great" given that he thinks "this should be a five-product company in 2026."

Watch the video above to hear why Singh says Moderna is the "kind of stock you want to own."

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Stephanie Mikulich.