<p>Moderna (MRNA) 再次成为焦点，因为最新的临床数据表明，其 mRNA 1010 流感疫苗在 50 岁以上成年人中优于标准疫苗。早期的汉坦病毒研究也因邮轮疫情而受到关注。</p>
<p>查看我们对 Moderna 的最新分析。</p>
<p>这些流感和汉坦病毒的更新正值 Moderna 股价在短期内回调，1 天股价回报为 1.98%，7 天股价回报为 9.77% 的下跌。90 天股价回报为 16.13%，年初至今股价回报为 58.91%，显示出近期强劲的动能，而 1 年总股东回报为 97.26%，与三年和五年的总股东回报大幅下降形成对比。这表明市场情绪最近才有所改善。</p>
<p>如果你对 mRNA 疫苗的重新关注感兴趣，现在可能是查看医疗保健领域其他动态并审查 32 只医疗保健 AI 股票的好时机。</p>
<p>随着 Moderna 仍在报告亏损且股价低于平均分析师目标价，投资者现在正在权衡最近的 mRNA 成就和管道动态。是否还有真正的上行空间，还是市场已经在定价未来的增长？</p>
<h2>最受欢迎的叙述：72% 被低估</h2>
<p>根据最受关注的叙述，Moderna 的公允价值为 175 美元，远高于最后收盘价 49.04 美元，这使得最近的回调显得不同寻常。</p>
<blockquote>
<p><em>尽管美国政府的研究和健康服务资金被削减，Moderna 仍处于强大的基本面位置。该公司在 COVID-19 大流行期间因快速开发和生产疫苗而声名鹊起，同时也因其表现获得了历史性的意外之财。更少为人知的是，Moderna 如何在成功后将这笔意外之财再投资。该公司花费了数年时间将利润投入新创新，同时保持了相对良好的资产负债表。对于像它这样的大型生物科技公司，保持低债务水平并不罕见。Moderna 在同行中因其相对资产的特别低估值而独树一帜。目前，该公司的交易价格低于其账面价值，未来的增长潜力取决于其众多药物和治疗投资的结果。即使没有额外的医疗创新投资，该公司也有许多产品在管道中准备推出。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>woodworthfund 的这一叙述重点介绍了 Moderna 如何利用其 COVID 意外之财、资产基础和成熟的管道来支撑 175 美元的数字。想看看哪些收入增长、利润路径和估值倍数假设在推动与今天 49.04 美元股价之间的差距吗？</p>
<p><strong>结果：公允价值 175 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，最近的股价疲软和 319.4 百万美元的持续净亏损意味着，管道中的任何挫折或 23.82% 的收入增长放缓都可能迅速挑战这种乐观情绪。</p>
<p>了解与此 Moderna 叙述相关的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>流行的 175 美元公允价值观点在很大程度上依赖于长期潜力，但当前的市销率为 8.7 倍则描绘了更严峻的图景。它低于美国生物科技行业的平均水平 10.6 倍，但远高于公允比率估计的 1.6 倍。这表明，如果市场情绪降温，估值风险将显著。</p>
<p>要更仔细地查看这一定价差距如何与商业基本面对齐，请查看我们关于这一价格的数字分析——在我们的估值分析中了解更多。它包括当前市销率与同行的比较以及 1.6 倍的公允比率基准。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2c9eba37-0527-4412-86f5-9216eb8b9e64/chart/ps-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE2?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2c9eba37-0527-4412-86f5-9216eb8b9e64/chart/ps-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE2"/></p>
<p>纳斯达克 GS:MRNA 市销率截至 2026 年 5 月</p>
<h2>下一步</h2>
<p>如果这种乐观与谨慎的混合让你思考，现在是时候自己查看数据并决定你的立场。要在情绪再次转变之前了解推动这种乐观的因素，请查看 1 个关键回报。</p>
<h2>寻找更多投资想法？</h2>
<p>如果 Moderna 让你对投资组合有了不同的想法，不要止步于此。最广泛的机会往往就在第一只吸引你眼球的股票之外。</p>
<ul>
<li>以 12 只股息堡垒为目标，帮助你专注于收入，同时仍然选择优质股票。</li>
<li>利用 50 只高质量被低估股票寻找定价差距，这些股票的基本面可能尚未完全反映在当前股价中。</li>
<li>首先优先考虑韧性，选择 66 只低风险评分的韧性股票，以免在下一轮波动来临之前后悔没有检查下行风险。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容一般。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<h3><strong>新功能：在一个地方管理所有股票投资组合</strong></h3>
<p>我们为股票投资者创建了 <strong>终极投资组合伴侣</strong>，<strong>并且是免费的。</strong></p>
<p>• 连接无限数量的投资组合，并以一种货币查看你的总额</p>
<p>• 通过电子邮件或手机接收新的警告信号或风险提示</p>
<p>• 跟踪你股票的公允价值</p>
<p>免费试用演示投资组合</p>

MRNA

<p>Moderna (MRNA) 正在引起关注，因为其 mRNA 1010 流感疫苗的效果优于针对 50 岁以上成人的标准疫苗。尽管最近股价回调，分析师认为该股票在 49.04 美元的价格下被低估，相较于 175 美元的公允价值。该公司拥有强大的产品线和低负债，但持续的亏损和估值风险仍然存在。投资者正在权衡增长潜力与当前市场情绪之间的关系</p>

<p>Moderna (MRNA) is back in focus after fresh clinical data showed its mRNA 1010 flu shot outperformed standard vaccines in adults over 50. Early hantavirus work has also gained attention following a cruise ship outbreak.</p>
<div class="lb-trans"><p>Moderna (MRNA) 再次成为焦点，因为最新的临床数据表明，其 mRNA 1010 流感疫苗在 50 岁以上成年人中优于标准疫苗。早期的汉坦病毒研究也因邮轮疫情而受到关注。</p>
</div><p>See our latest analysis for Moderna.</p>
<div class="lb-trans"><p>查看我们对 Moderna 的最新分析。</p>
</div><p>Those flu and hantavirus updates arrive as Moderna’s share price pulls back in the very short term, with a 1-day share price return of 1.98% and a 7-day share price return of 9.77% on the downside. A 90-day share price return of 16.13% and year to date share price return of 58.91% point to strong recent momentum, while a 1-year total shareholder return of 97.26% contrasts with steep total shareholder return declines over three and five years. This suggests sentiment has only recently improved.</p>
<div class="lb-trans"><p>这些流感和汉坦病毒的更新正值 Moderna 股价在短期内回调，1 天股价回报为 1.98%，7 天股价回报为 9.77% 的下跌。90 天股价回报为 16.13%，年初至今股价回报为 58.91%，显示出近期强劲的动能，而 1 年总股东回报为 97.26%，与三年和五年的总股东回报大幅下降形成对比。这表明市场情绪最近才有所改善。</p>
</div><p>If the renewed interest in mRNA vaccines has your attention, it could be a good moment to see what else is moving in healthcare and review 32 healthcare AI stocks</p>
<div class="lb-trans"><p>如果你对 mRNA 疫苗的重新关注感兴趣，现在可能是查看医疗保健领域其他动态并审查 32 只医疗保健 AI 股票的好时机。</p>
</div><p>With Moderna still reporting losses and the stock trading below the average analyst price target, investors are now weighing the recent mRNA wins and pipeline buzz. Is there real upside left, or are markets already pricing in future growth?</p>
<div class="lb-trans"><p>随着 Moderna 仍在报告亏损且股价低于平均分析师目标价，投资者现在正在权衡最近的 mRNA 成就和管道动态。是否还有真正的上行空间，还是市场已经在定价未来的增长？</p>
</div><h2>Most Popular Narrative: 72% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：72% 被低估</h2>
</div><p>According to the most followed narrative, Moderna’s fair value of $175 sits well above the last close of $49.04, which puts the recent pullback in a different light.</p>
<div class="lb-trans"><p>根据最受关注的叙述，Moderna 的公允价值为 175 美元，远高于最后收盘价 49.04 美元，这使得最近的回调显得不同寻常。</p>
</div><blockquote>
<p><em>Despite the defunding of US governmental research and health services, Moderna remains in a commanding fundamental position. The company that made its name during the COVID-19 pandemic developing and manufacturing vaccines for the disease at breakneck pace also happened to have bagged a historic windfall in exchange for its performance. Less well-known is how Moderna reinvested the windfall in the wake of its success. The company has spent years plowing its profits into new innovations while maintaining a relatively pristine balance sheet for a company as large as it is. In biotech it is not uncommon for companies to keep low levels of debt. Moderna is unique among its peers for its particularly low valuation relative to its assets. Currently, the company is trading below its book value, with the potential for significant growth depending on how any one of its numerous drug and treatment investments turn out. Even without any additional investment in medical innovation, the company has a lot of products in its pipeline ready to go.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>尽管美国政府的研究和健康服务资金被削减，Moderna 仍处于强大的基本面位置。该公司在 COVID-19 大流行期间因快速开发和生产疫苗而声名鹊起，同时也因其表现获得了历史性的意外之财。更少为人知的是，Moderna 如何在成功后将这笔意外之财再投资。该公司花费了数年时间将利润投入新创新，同时保持了相对良好的资产负债表。对于像它这样的大型生物科技公司，保持低债务水平并不罕见。Moderna 在同行中因其相对资产的特别低估值而独树一帜。目前，该公司的交易价格低于其账面价值，未来的增长潜力取决于其众多药物和治疗投资的结果。即使没有额外的医疗创新投资，该公司也有许多产品在管道中准备推出。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>This narrative from woodworthfund focuses on how Moderna used its COVID windfall, its asset base, and a maturing pipeline to underpin that $175 figure. Want to see which revenue ramp, margin path, and valuation multiple assumptions are doing the heavy lifting behind that gap to today’s $49.04 share price.</p>
<div class="lb-trans"><p>woodworthfund 的这一叙述重点介绍了 Moderna 如何利用其 COVID 意外之财、资产基础和成熟的管道来支撑 175 美元的数字。想看看哪些收入增长、利润路径和估值倍数假设在推动与今天 49.04 美元股价之间的差距吗？</p>
</div><p><strong>Result: Fair Value of $175 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值 175 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, recent share price weakness and ongoing net losses of US$3,194m mean any setback in the pipeline, or slower revenue growth of 23.82%, could quickly challenge that optimism.</p>
<div class="lb-trans"><p>然而，最近的股价疲软和 319.4 百万美元的持续净亏损意味着，管道中的任何挫折或 23.82% 的收入增长放缓都可能迅速挑战这种乐观情绪。</p>
</div><p>Find out about the key risks to this Moderna narrative.</p>
<div class="lb-trans"><p>了解与此 Moderna 叙述相关的关键风险。</p>
</div><h2>Another Angle On Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>The popular $175 fair value view leans heavily on long term potential, but the current P/S ratio of 8.7x paints a tougher picture. It is lower than the US Biotechs industry average of 10.6x, yet far above the fair ratio estimate of 1.6x. This points to meaningful valuation risk if sentiment cools.</p>
<div class="lb-trans"><p>流行的 175 美元公允价值观点在很大程度上依赖于长期潜力，但当前的市销率为 8.7 倍则描绘了更严峻的图景。它低于美国生物科技行业的平均水平 10.6 倍，但远高于公允比率估计的 1.6 倍。这表明，如果市场情绪降温，估值风险将显著。</p>
</div><p>For a closer look at how this pricing gap aligns with business fundamentals, review the valuation breakdown in the See what the numbers say about this price — find out in our valuation breakdown.. It includes how the current P/S compares with peers and that 1.6x fair ratio baseline.</p>
<div class="lb-trans"><p>要更仔细地查看这一定价差距如何与商业基本面对齐，请查看我们关于这一价格的数字分析——在我们的估值分析中了解更多。它包括当前市销率与同行的比较以及 1.6 倍的公允比率基准。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2c9eba37-0527-4412-86f5-9216eb8b9e64/chart/ps-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE2" alt="" original-src="https://images.simplywall.st/company/2c9eba37-0527-4412-86f5-9216eb8b9e64/chart/ps-multiple-vs-industry?date=2026-05-16"/></p>
<p>NasdaqGS:MRNA P/S Ratio as at May 2026</p>
<div class="lb-trans"><p>纳斯达克 GS:MRNA 市销率截至 2026 年 5 月</p>
</div><h2>Next Steps</h2>
<div class="lb-trans"><h2>下一步</h2>
</div><p>If this mix of optimism and caution has you thinking, now is the time to check the data yourself and decide where you stand. To see what is driving that optimism before sentiment shifts again, review the 1 key reward.</p>
<div class="lb-trans"><p>如果这种乐观与谨慎的混合让你思考，现在是时候自己查看数据并决定你的立场。要在情绪再次转变之前了解推动这种乐观的因素，请查看 1 个关键回报。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>If Moderna has you thinking differently about your portfolio, do not stop here. The widest opportunities often sit just beyond the first stock that catches your eye.</p>
<div class="lb-trans"><p>如果 Moderna 让你对投资组合有了不同的想法，不要止步于此。最广泛的机会往往就在第一只吸引你眼球的股票之外。</p>
</div><ul>
<li>Target steady compounding potential with 12 dividend fortresses to help you focus on income while still being selective about quality.</li>
<li>Hunt for pricing gaps using 50 high quality undervalued stocks where solid fundamentals may not yet be fully reflected in current share prices.</li>
<li>Prioritise resilience first with 66 resilient stocks with low risk scores so you are not the one wishing you had checked the downside before the next bout of volatility hits.</li>
</ul>
<div class="lb-trans"><ul>
<li>以 12 只股息堡垒为目标，帮助你专注于收入，同时仍然选择优质股票。</li>
<li>利用 50 只高质量被低估股票寻找定价差距，这些股票的基本面可能尚未完全反映在当前股价中。</li>
<li>首先优先考虑韧性，选择 66 只低风险评分的韧性股票，以免在下一轮波动来临之前后悔没有检查下行风险。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容一般。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div><h3><strong>New:</strong> Manage All Your Stock Portfolios in One Place</h3>
<div class="lb-trans"><h3><strong>新功能：在一个地方管理所有股票投资组合</strong></h3>
</div><p>We've created the <strong>ultimate portfolio companion</strong> for stock investors, <strong>and it's free.</strong></p>
<div class="lb-trans"><p>我们为股票投资者创建了 <strong>终极投资组合伴侣</strong>，<strong>并且是免费的。</strong></p>
</div><p>• Connect an unlimited number of Portfolios and see your total in one currency</p>
<div class="lb-trans"><p>• 连接无限数量的投资组合，并以一种货币查看你的总额</p>
</div><p>• Be alerted to new Warning Signs or Risks via email or mobile</p>
<div class="lb-trans"><p>• 通过电子邮件或手机接收新的警告信号或风险提示</p>
</div><p>• Track the Fair Value of your stocks</p>
<div class="lb-trans"><p>• 跟踪你股票的公允价值</p>
</div><p>Try a Demo Portfolio for Free</p>
<div class="lb-trans"><p>免费试用演示投资组合</p>
</div>

在流感疫苗数据公布以及汉坦病毒项目引起关注后，评估 Moderna（MRNA）的估值