After Oppenheimer and Needham gave Moderna Inc (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Cory Kasimov maintained a Buy rating on Moderna Inc yesterday and set a price target of $24. The company’s shares closed yesterday at $20.65.
Kasimov commented:
“Moderna’s first earnings call as a public company contained incremental updates (e.g., in MMA & personalized cancer vaccine program moving to Phase 2) that were in line with our expectation that early progress will serve to gradually build an increasing amount of evidence to inform the potential of the mRNA-based platform. Bigger picture, we believe that this platform could have broad and disruptive potential across the biopharma landscape though acknowledge this is likely a long-term story.”
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 0.8% and a 41.5% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Allogene Therapeutics Inc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna Inc with a $24.71 average price target, implying a 19.7% upside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $28 price target.
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The company has a one-year high of $24.40 and a one-year low of $13.03. Currently, Moderna Inc has an average volume of 1.42M.
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Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.
