Ryan Specialty Holdings, Inc. Stock 12‑Month Price Target Cut to $47.85, Implies 29% Upside

Ryan Specialty Holdings (NYSE:RYAN) reported Q2 earnings of 74 cents per share, above the 60 cents consensus, and sales of $916.647 million versus $872.957 million expected. Shares rose 11.7% to $49.25 pre-market. After the results, Barclays raised its price target to $48 and Keefe, Bruyette & Woods to $54, both maintaining positive ratings.

Ryan Specialty Holdings, Inc. reported second-quarter 2026 net commissions and fees of $902.7 million, up 7.4% year-over-year. Total revenue for the quarter reached $916.6 million, a 7.2% increase from $855.2 million a year earlier. Organic revenue growth came in at 6.7%, down from 7.1% in the prior-year period. The deceleration continues a trend across multiple quarters as the broader E&S market moderates.

Insurance specialty broker Ryan Specialty (NYSE: RYAN) beat Wall Street’s revenue expectations in Q2 CY2026, with sales up 7.2% year on year to $916.6 million. Its non-GAAP profit of $0.74 per share was 22.9% above analysts’ consensus estimates. Is now the time to buy Ryan Specialty? Find out by accessing our full research report, it’s free.

RYAN SPECIALTY HOLDINGS, INC. (RYAN) filed an SEC Form 8-K — Results of Operations and Financial Condition. 1 RYAN SPECIALTY REPORTS SECOND QUARTER 2026 RESULTS - Total Revenue grew 7.2% year-over-year to $916.6 million - - Organic Revenue Growth Rate* of 6.7% year-over-year - - Net Income of $108.4 million , or $0.33 per diluted share - - Adjusted EBITDAC* grew 6.0% year-over-year to

Moderna (MRNA) and Merck reported a 42% reduction in melanoma recurrence or death in a Phase 3 trial of Moderna's cancer vaccine. Shares fell 17.6% after data leaked early. The trial tested intismeran autogene with Merck's Keytruda. Moderna reported Q2 2026 loss of $782m on $145m revenue.

Moderna and Merck's experimental melanoma vaccine, combined with Keytruda, reduced recurrence or death risk by 42% in a Phase 3 trial. Despite positive results, Moderna's shares fell 18%, likely due to high investor expectations. The vaccine is personalized using mRNA technology, targeting unique tumor mutations. Trial data showed 82.2% of patients treated with the vaccine and Keytruda were alive without recurrence after two years, compared to 70% with Keytruda alone.