Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Moderna, Inc. reported its financial results for the third quarter of 2024, highlighting key developments and challenges in its business operations.</li><li>The company delivered $1.9 billion in revenue, with a net income of $13 million, and ended the quarter with $9.2 billion in cash and investments.</li><li>This financial position underscores Moderna's robust liquidity, providing it with a solid foundation to support ongoing and future initiatives.</li></ul>

Moderna, Inc. reported its financial results for the third quarter of 2024, highlighting key developments and challenges in its business operations.The company delivered $1.9 billion in revenue, with a net income of $13 million, and ended the quarter with $9.2 billion in cash and investments.This financial position underscores Moderna's robust liquidity, providing it with a solid foundation to support ongoing and future initiatives.

Moderna Inc.: Expanding Global Presence For Unmatched Impact! - Major Drivers

<ul><li>Moderna reported its Quarterly Earnings recently and managed a decent performance.</li><li>Positives from the quarter included advancements in Moderna's respiratory vaccine portfolio, particularly with mRNA-1273, its COVID-19 vaccine, and new RSV vaccine, mRESVIA.</li><li>Notably, mRNA-1273 continues to be a significant product in combating COVID-19 with substantial hospitalization rates reported from the CDC for the '23/'24 season.</li></ul>

Moderna reported its Quarterly Earnings recently and managed a decent performance.Positives from the quarter included advancements in Moderna's respiratory vaccine portfolio, particularly with mRNA-1273, its COVID-19 vaccine, and new RSV vaccine, mRESVIA.Notably, mRNA-1273 continues to be a significant product in combating COVID-19 with substantial hospitalization rates reported from the CDC for the '23/'24 season.

Moderna Inc.: These Are The 4 Biggest Challenges That Bears Are Counting On! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

Ortex

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.</li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.</li>
<li>
<a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> is <em>not </em>an expected deletion due to special ADR market cap treatment. <a href="https://www.smartkarma.com/entities/equinix-inc" target="_blank" data-smartkarma-citation="entities:17409:1" rel="noopener">Equinix Inc (EQIX US)</a> is <em>not </em>an expected addition because it is a REIT.</li>
</ul>



Palantir Technologies (PLTR US) is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.

Super Micro Computer (SMCI US) is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.

ARM Holdings (ARM US) is not an expected deletion due to special ADR market cap treatment. Equinix Inc (EQIX US) is not an expected addition because it is a REIT.


Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>
<a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna Inc (MRNA US)</a> , the leading biotechnology company and producer of mRNA-based COVID-19 vaccine Spikevax, reported total revenue of ~$18.5B and net income of $12.2B in CY’21.</li>
<li>Management announced a new $3B share repurchase plan and fully utilized the previous $1B buyback program as valuations looked attractive. </li>
<li>We expect the company will generate ~$22.1B of free cash flows from CY’22 through CY’24, and we would be buyers on any weakness in Moderna. </li>
</ul>



Moderna Inc (MRNA US) , the leading biotechnology company and producer of mRNA-based COVID-19 vaccine Spikevax, reported total revenue of ~$18.5B and net income of $12.2B in CY’21.
Management announced a new $3B share repurchase plan and fully utilized the previous $1B buyback program as valuations looked attractive. 
We expect the company will generate ~$22.1B of free cash flows from CY’22 through CY’24, and we would be buyers on any weakness in Moderna. 


Strong Quarterly Results And New $3B Share Repurchase Plan

<ul>
<li>Shares of <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna Inc (MRNA US)</a> underperformed and fell ~32% YTD. Investors continued to cut exposure to stocks of COVID vaccine makers, including BioNTech, Novavax, CureVac, among others.</li>
<li>In August 2021, Moderna announced the first share buyback plan. The company’s Board of Directors has authorized share repurchase for up to $1 billion with an expiry date in 2023. </li>
<li>We estimate Moderna may end 2021 with a total of ~$18.5 billion in cash, cash eq., investments and expect the company may boost share buyback in the future.</li>
</ul>


Shares of Moderna Inc (MRNA US) underperformed and fell ~32% YTD. Investors continued to cut exposure to stocks of COVID vaccine makers, including BioNTech, Novavax, CureVac, among others.
In August 2021, Moderna announced the first share buyback plan. The company’s Board of Directors has authorized share repurchase for up to $1 billion with an expiry date in 2023. 
We estimate Moderna may end 2021 with a total of ~$18.5 billion in cash, cash eq., investments and expect the company may boost share buyback in the future.


Is It Time For Moderna To Boost Share Buyback And Start Paying Dividends?

United States

Moderna, Inc. operates as a biotechnology company. The Company focuses on the discovery and development of messenger RNA therapeutics and vaccines. Moderna develops mRNA medicines for infectious, immuno-oncology, and cardiovascular diseases.

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Moderna (MRNA US)

Moderna Inc.: Expanding Global Presence For Unmatched Impact! - Major Drivers

Moderna, Inc. reported its financial results for the third quarter of 2024, highlighting key developments and challenges in its business...

Baptista Research

Moderna Inc.: These Are The 4 Biggest Challenges That Bears Are Counting On! - Major Drivers

Moderna reported its Quarterly Earnings recently and managed a decent performance. Positives from the quarter included advancements in Moderna's...

Baptista Research

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

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Moderna Inc.: Expanding Global Presence For Unmatched Impact! - Major Drivers

Moderna, Inc. reported its financial results for the third quarter of 2024, highlighting key developments and challenges in its business...

Baptista Research

Moderna Inc.: These Are The 4 Biggest Challenges That Bears Are Counting On! - Major Drivers

Moderna reported its Quarterly Earnings recently and managed a decent performance. Positives from the quarter included advancements in Moderna's...

Baptista Research

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

Strong Quarterly Results And New $3B Share Repurchase Plan

Moderna remains our top pick among COVID-19 vaccine producers, and the new buyback program will support share price during periods of turbulent...

Andrei Zakharov

Is It Time For Moderna To Boost Share Buyback And Start Paying Dividends?

Our analysis suggests that Moderna may boost share buyback and announce dividend payments in 2022 as cash pile will exceed $20 billion

Andrei Zakharov