Moderna Stock Trading Lower On Dismal Guidance, Analysts Cuts Price Targets Noting Competitive Pressure From GSK, Pfizer
Portfolio Pulse from Vandana Singh
Moderna Inc (NASDAQ:MRNA) has lowered its 2024 sales guidance due to weaker demand for its COVID-19 vaccines, citing competitive pressure from Pfizer Inc (NYSE:PFE) and GSK Plc (NYSE:GSK). Analysts have cut price targets for Moderna, reflecting the new guidance and competitive landscape. Moderna's stock is down 8.52% following the news.
August 02, 2024 | 6:22 pm
News sentiment analysis
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Moderna has lowered its 2024 sales guidance due to weaker demand for its COVID-19 vaccines and competitive pressure from Pfizer and GSK. Analysts have cut price targets, and the stock is down 8.52%.
The lowered sales guidance and competitive pressure from larger companies like Pfizer and GSK have led analysts to cut price targets for Moderna. This has resulted in a significant drop in the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
GSK is noted as a significant competitor to Moderna in the respiratory vaccine market, using its existing product portfolio to apply competitive pressure.
GSK's competitive pressure on Moderna is highlighted, indicating GSK's strong market position could benefit from Moderna's lowered guidance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Merck & Co Inc is mentioned in relation to its collaboration with Moderna on mRNA-4157, showing positive data for melanoma treatment.
Merck's collaboration with Moderna on mRNA-4157 shows positive data, which could be beneficial for Merck's stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Pfizer is identified as a key competitor to Moderna in the respiratory vaccine market, leveraging its existing product portfolio to exert competitive pressure.
Pfizer's competitive pressure on Moderna is highlighted, suggesting Pfizer's strong market position could benefit from Moderna's lowered guidance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50