After Piper Jaffray and Oppenheimer gave Moderna Inc (NASDAQ: MRNA) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Alan Carr maintained a Buy rating on Moderna Inc today and set a price target of $28. The company’s shares opened today at $18.99.
Carr wrote:
“Moderna announced yesterday that results from a Phase 1a trial of mRNA-1653 in healthy adult volunteers merit progression of the vaccine into Phase 1b testing in pediatric subjects. mRNA-1653, in development as a vaccine for Human Metapneumovirus (hMPV) and (PIV3), boosted hMPV neutralization titers 6x over baseline and PIV3 by 3x one month after a single administration. Magnitude of effect was reportedly similar across all four doses tested and a second vaccination one month after the first vaccination had no impact on antibody titers. A Phase 1b trial in seropositive pediatric subjects is planned. We await details, but announcement provides an additional element of proof of concept for the mRNA platform, particularly in the vaccine space. Reiterate BUY.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 3.0% and a 43.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Iterum Therapeutics Plc.
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 30.1% upside from current levels. In a report issued on January 30, Oppenheimer also assigned a Buy rating to the stock with a $27 price target.
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Based on Moderna Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $80.33 million. In comparison, last year the company had a GAAP net loss of $37.94 million.
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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.
