Oppenheimer Reaffirms Their Buy Rating on Moderna Inc (MRNA)


Oppenheimer analyst Hartaj Singh reiterated a Buy rating on Moderna Inc (MRNA) yesterday and set a price target of $27. The company’s shares closed yesterday at $20.65.

Singh observed:

“We are reiterating 4Q18 results. Our thesis rests on three key points: 1) MRNA has first-in-class mRNA technology, with several clinical programs ongoing as both a broad and deep portfolio of assets entering the clinic over the next 12-24 months; 2) the platform technology spanning five therapeutic categories carries significant revenue potential in the long term, if successful; and 3) we believe growing activity from large pharma increases the potential for deal activity. We believe MRNA is a well-positioned takeout candidate for a large acquirer interested in entering the RNA space. While M&A may become long term, a myriad of catalysts with significant value creation lies ahead in the next 12-24 months. We are bullish.”

According to TipRanks.com, Singh is a 2-star analyst with an average return of 0.5% and a 42.5% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.

Moderna Inc has an analyst consensus of Strong Buy, with a price target consensus of $24.71, 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.

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