Analyst Terence Flynn of Morgan Stanley maintained a Hold rating on Moderna (MRNA – Research Report), retaining the price target of $31.00.
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Terence Flynn has given his Hold rating due to a combination of factors including the recent positive Phase 3 data for Moderna’s seasonal flu vaccine, mRNA-1010. While the vaccine demonstrated strong relative vaccine efficacy (rVE) across various influenza strains and age groups, there remains uncertainty regarding its commercial potential. The positive data is seen as an incremental benefit for Moderna’s stock, but the focus is more on the potential of the company’s COVID and flu combination vaccine, mRNA-1083.
Flynn notes that Moderna plans to engage with regulators for filing submissions for mRNA-1010, and the positive results could facilitate the resubmission of the Biologics License Application (BLA) for mRNA-1083. However, the commercial opportunity is perceived to be greater for the combo vaccine, projected to launch in 2026 with significant sales potential by 2030. Despite the promising data, these uncertainties and future projections contribute to the Hold rating, as the market awaits further developments.