In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Moderna Inc (MRNA), with a price target of $27. The company’s shares opened today at $18.69.
Cann wrote:
“mRNA-1653, an mRNA-based vaccine for the treatment of human metapneumovirus (HMPV) and parainfluenza virus (PIV3), is currently being evaluated in a phase Ib study. The interim phase I data announced today support our outlook for this experimental product and support advancing studies in the pediatric population. mRNA-1653 is one of Moderna’s 21 current programs, and importantly, one of its 13 focus programs. There are no approved vaccines to prevent hMPV or PIV3 infections, which represents a significant unmet medical need, especially for infants and children. We estimate mRNA-1653 could enter the market in 2024 and we estimate that worldwide mRNA-1653 sales will increase to $1.44 billion by 2030.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 11.3% and a 50.2% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and Crispr Therapeutics AG.
Moderna Inc has an analyst consensus of Strong Buy, with a price target consensus of $24.71, implying a 32.2% upside from current levels. In a report issued on February 4, Piper Jaffray also maintained a Buy rating on the stock with a $24 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.
