Moderna Is Fairly Valued, Balancing Declining COVID-19 Base Business with Promising Future Pipeline: Analyst
Portfolio Pulse from Vandana Singh
William Blair initiated coverage on Moderna Inc (MRNA) with a Market Perform rating, establishing a fair value estimate of $136.28 per share. The valuation considers the declining COVID-19 base business, the competitive ex-COVID vaccine landscape, and the timing gap to the early-stage therapeutic pipeline. The firm models around $6.3 billion in global COVID-19 vaccine revenue in 2023. Moderna's personalized cancer vaccine (PCV), developed in partnership with Merck & Co Inc (MRK), has shown positive results in Phase 2 trials and is advancing to Phase 3.
July 24, 2023 | 3:39 pm
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NEUTRAL IMPACT
Moderna's fair value estimate is set at $136.28 per share by William Blair, considering the declining COVID-19 business and the competitive vaccine landscape. The firm's PCV, developed with Merck, is showing positive results.
The fair value estimate by William Blair indicates a neutral short-term impact on Moderna's stock. The declining COVID-19 business and competitive vaccine landscape could pose challenges, but the positive results from the PCV developed with Merck could offset these.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Merck & Co Inc has partnered with Moderna for the development of a personalized cancer vaccine, which has shown positive results in Phase 2 trials and is advancing to Phase 3.
The positive results from the Phase 2 trials of the personalized cancer vaccine developed in partnership with Moderna could have a positive short-term impact on Merck's stock. The advancement to Phase 3 trials further strengthens this potential impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60