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Moderna shares surge in 2026 as Wall Street stays mostly on Hold
The stock’s move comes alongside Q1 2026 revenue of $389 million, but a GAAP net loss of $1.3 billion tied to litigation and a patent settlement.
Moderna’s shares have doubled in 2026, climbing more than 170% year-to-date by the first week of July and remaining up about 90% to 100% by the third week of July, even as Wall Street remains unconvinced, according to Yahoo Finance.
In its first-quarter 2026 update, Moderna reported total revenue of $389 million, up 260% year-over-year from $108 million in Q1 2025. Net product sales rose to $352 million, up 309% year-over-year, and the company said international markets represented about 80% of top-line revenue. Moderna also reported a 26% year-over-year reduction in adjusted cash costs.
Despite the sales gains, Moderna posted a GAAP net loss of $1.3 billion for the quarter, which was attributed to a $178 million Arbutus patent settlement and reported contingent legal costs of up to $1.3 billion related to ongoing litigation, including a new CureVac lawsuit.
On the near-term catalyst front, Yahoo Finance noted the FDA’s renewed review of the mRNA-1010 flu vaccine, with a PDUFA date of August 5. While Piper Sandler raised its price target to $77 from $69, consensus ratings across most measured datasets still skew largely to Hold.