There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Moderna Inc (MRNA) and Aduro BioTech (ADRO) with bullish sentiments.
Moderna Inc (MRNA)
In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Moderna Inc, with a price target of $27. The company’s shares opened today at $15.13.
Cann wrote:
“We estimate the triplet mRNA-2752 (OX40L/IL23/IL36) will enter the market in 2024 and reach worldwide sales of $1.12 billion by 2030. Preclinical data published today in Science Translational Medicine not only demonstrate the potential for mRNA-2752 as an anti-cancer therapy, but also demonstrate the possibility of using multiple mRNAs encoding for immune modulators in a single therapy. These preclinical results are encouraging for the mRNA-2752 phase I study that is currently enrolling patients, and support our outlook for the Moderna platform and for mRNA-2752 as a therapy.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 8.6% and a 48.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Currently, the analyst consensus on Moderna Inc is a Strong Buy with an average price target of $24.71, implying a 63.3% upside from current levels. In a report issued on January 22, Piper Jaffray also reiterated a Buy rating on the stock with a $24 price target.
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Aduro BioTech (ADRO)
In a report released today, Chris Shibutani from Cowen & Co. maintained a Buy rating on Aduro BioTech. The company’s shares opened today at $2.72, close to its 52-week low of $2.34.
According to TipRanks.com, Shibutani is a 1-star analyst with an average return of -0.6% and a 39.4% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Pieris Pharmaceuticals, and Evelo Biosciences Inc.
Aduro BioTech has an analyst consensus of Strong Buy, with a price target consensus of $7, representing a 157.4% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $7 price target.
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