Moderna Is Up 109% in 2026. Jim Cramer Just Called It 'Finally Investable Again.' Is the Stock a No-Brainer Buy on Its Recent Pullback?

Moderna (NASDAQ: MRNA) soared onto the scene in early pandemic days with its messenger RNA technology and delivered a coronavirus vaccine in a matter of months. As the vaccine brought in blockbuster revenue, Moderna's stock price roared higher. In fact, from the start of 2020 through early August 2021, it climbed more than 2,000%.

In recent years, as demand for the coronavirus vaccine declined, the biotech company also saw its profits shrink and even turn into losses. And though the pipeline remained robust, investors had difficulty seeing Moderna as more than a coronavirus vaccine player. All of this led to declines in the stock price, with it sliding more than 80% from its peak.

But Moderna has made significant progress advancing pipeline programs and cost-cutting efforts, and this year, investors have been sitting up and taking notice. The stock has skyrocketed, climbing 109%. Jim Cramer of CNBC's Mad Money calls it "finally investable again." Is Moderna a no-brainer buy on its recent pullback? Let's find out.

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Moderna's disappointments

As mentioned, Moderna struggled in recent years as it took time to transition from a coronavirus vaccine company to a player that investors could see as a multi-product company across treatment areas. Moderna faced its share of disappointments along the path, too, with its respiratory syncytial virus (RSV) vaccine delivering sales that fell short of expectations during its first season on the market and its cytomegalovirus (CMV) candidate failing in late-stage trials.

These sorts of setbacks aren't uncommon for biotech and pharma companies, but following the decline in coronavirus vaccine sales, they added to Moderna's difficulties. But the biotech company progressed in its efforts to realign costs with its opportunities and advance promising programs.

In the latest quarterly update, Moderna reiterated its goal of generating as much as 10% revenue growth this year. And in the quarter, the company delivered a 26% reduction in adjusted cash costs.

Moderna currently has three approved products in the U.S. -- two coronavirus vaccines and its RSV vaccine -- and it may be on the way to launching a fourth. Regulators currently are reviewing the company's flu vaccine candidate, mRNA-1010, and a decision is expected on or before Aug. 5. The company also recently won approval in Europe for its combined coronavirus/flu vaccine -- the world's first.

Future growth drivers

Moderna's late-stage candidates and commercialized medicine focus areas are infectious disease vaccines, rare diseases, and oncology. And here, late-stage candidates may drive significant growth in the coming years. For example, intismeran autogene, a personalized cancer therapy, is being studied in several phase 3 trials, and the company's propionic acidemia study is fully enrolled, with data expected later this year. This study may support a regulatory submission.

"Moderna's got a plethora of thoughtful, new products and clear roadmap to profitability for the first time in such a long time," said CNBC's Jim Cramer.

Meanwhile, Moderna stock, though it's soared more than 100% this year, has declined 24% from a peak on July 6. Is the stock a no-brainer buy after this pullback? Moderna is a buy, but investors shouldn't rush to get in on the stock immediately. At today's level, it's reasonable to pick up the shares, but I wouldn't expect them to soar overnight to an out-of-reach price.

Your decision may depend on your investing strategy. Cautious investors might wait a bit longer as Moderna's late-stage candidates progress and then consider picking up a few shares. Aggressive investors, however, may aim to start building a position today, on the dip, and potentially add to this position over time.

Even if Moderna's performance in the second half of the year isn't as spectacular as it was in the first half, that's OK -- the company clearly has reached a key transition point on its path to becoming a multi-product player addressing numerous treatment areas. And that makes it a fantastic stock to buy now or in the coming quarters and hold onto for the long term.

Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Moderna. The Motley Fool has a disclosure policy.