Moderna's stock experienced mixed movement following its fourth-quarter earnings report. The company reported better-than-expected fourth-quarter sales and reiterated its 2026 revenue growth target of 10%. However, shares were pressured by two significant regulatory setbacks. The FDA issued a refuse-to-file letter for Moderna's seasonal flu vaccine mRNA-1010, declining to formally review the application. In response to this FDA decision, Moderna retracted its 2028 breakeven guidance, describing the situation as fresh and fluid. Despite these challenges, the company affirmed its 2026 revenue growth outlook, anticipating growth from non-U.S. vaccine contracts and its pipeline of 10 other products in development. Analysts raised their consensus price target to US$40.90 following the earnings results.
Read full analysisModerna's stock experienced mixed movement following its fourth-quarter earnings report. The company reported better-than-expected fourth-quarter sales and reiterated its 2026 revenue growth target of 10%. However, shares were pressured by two significant regulatory setbacks. The FDA issued a refuse-to-file letter for Moderna's seasonal flu vaccine mRNA-1010, declining to formally review the application. In response to this FDA decision, Moderna retracted its 2028 breakeven guidance, describing the situation as fresh and fluid. Despite these challenges, the company affirmed its 2026 revenue growth outlook, anticipating growth from non-U.S. vaccine contracts and its pipeline of 10 other products in development. Analysts raised their consensus price target to US$40.90 following the earnings results.
Moderna is a biotechnology company that pioneered mRNA vaccine technology, best known for its COVID-19 vaccine. The company is attempting to diversify into flu vaccines, cancer therapies, and other products as COVID vaccine demand declines sharply. The FDA's refusal to even review its flu vaccine application strikes at the heart of this diversification strategy, which is central to today's selloff.