Analyst Salveen Richter of Goldman Sachs maintained a Hold rating on Moderna, with a price target of $35.00.
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Salveen Richter’s rating is based on the recent positive Phase 3 data for Moderna’s influenza vaccine, mRNA-1010, which showed a relative vaccine efficacy of 26.6% compared to GSK’s Fluarix in adults aged 50 and older. This result is numerically superior to Sanofi’s Fluzone HD, though cross-trial comparisons have limitations. Despite these promising results, there is uncertainty regarding vaccine policy and regulatory frameworks, particularly concerning the combination flu and COVID vaccine, mRNA-1083. Regulatory filings for both vaccines are anticipated soon, with potential availability for the 2027 season, contingent on priority review vouchers.
Additionally, while the efficacy data is promising, there are concerns about Moderna’s cash management strategy, which remains a point of scrutiny for investors. The company’s management has expressed confidence in their approach, but the ongoing policy-related uncertainties and the need for further regulatory clarity contribute to the Hold rating. Overall, while the clinical data is positive, the combination of regulatory and financial considerations leads to a cautious outlook.
In another report released on June 30, Morgan Stanley also maintained a Hold rating on the stock with a $31.00 price target.
MRNA’s price has also changed moderately for the past six months – from $39.380 to $27.590, which is a -29.94% drop .