In a report released today, Alan Carr from Needham maintained a Buy rating on Moderna Inc (MRNA), with a price target of $28. The company’s shares opened today at $20.65.
Carr noted:
“Moderna hosted a conference call today to provide a quarterly corporate update. Mgmt announced plans to move mRNA-4157 2 trial in Melanoma w/ collaborator Merck. The number of neoantigens has been expanded from 20 to 34. mRNA-1944 Chikungunya antibody Phase 1 trial has enrolled first of planned four cohorts in healthy volunteers. Program will provide a degree of proof of concept for other systemic delivery programs, including mRNA-3704 in rare disease MMA, which is likely to move into Phase 1 by mid-2019. Mgmt announced mRNA-1647 CMV Phase 1 trial will be expanded to evaluate higher doses, potentially pushing out timelines. Reiterate BUY.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 3.4% and a 42.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
Currently, the analyst consensus on Moderna Inc is a Strong Buy with an average price target of $24.71.
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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.
