Moderna Analyst Projects Transformation Into 'Five-Product Commercial Company' By 2026
Portfolio Pulse from Priya Nigam
Oppenheimer analyst Hartaj Singh upgraded Moderna Inc (NASDAQ:MRNA) to Outperform with a price target of $142, citing the company's potential to become a 'five-product commercial company' by 2026. Singh highlighted the expected approvals of Moderna's RSV vaccine (mRNA-1345), influenza vaccine (mRNA-1010), and INT (mRNA-4157), which could utilize the Accelerated Approval pathway. Despite a decline in COVID-19 vaccine sales, there's been an uptick in hospitalizations. Singh anticipates a decrease in OPEX for 2024 and 2025, with sales picking up in 2025. Moderna's shares were up 13.5% to $112.88 following the upgrade.
January 02, 2024 | 4:21 pm
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POSITIVE IMPACT
Moderna Inc's stock rating was upgraded to Outperform by Oppenheimer analyst Hartaj Singh with a price target of $142, based on the potential for product expansion and approvals by 2026.
The upgrade by Oppenheimer is a strong positive signal for investors, indicating confidence in Moderna's pipeline and future revenue growth. The specific mention of upcoming product approvals and the expected decrease in OPEX, coupled with the recent uptick in hospitalizations, suggest a bullish outlook for the stock in the short term. The 13.5% surge in share price reflects immediate market reaction to the news.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100