William Blair analyst Myles Minter has maintained their neutral stance on MRNA stock, giving a Hold rating on April 23.
Myles Minter has given his Hold rating due to a combination of factors impacting Moderna’s financial and operational outlook. One of the primary reasons is the company’s recent financial performance, where its Spikevax sales fell short of consensus expectations, although they did surpass the firm’s own estimates. Additionally, the sales of Moderna’s RSV vaccine were significantly below both the firm’s and consensus estimates, indicating challenges in the RSV market.
Despite these setbacks, Moderna’s net loss was better than anticipated, showing effective cost-cutting measures aimed at achieving breakeven by 2028. The company is also making progress in its mRNA therapeutics pipeline, with over 10 products advancing towards approval. However, the extended review timeline for its COVID/flu combo vaccine and the deprioritization of its development in younger adults present potential headwinds. These mixed factors contribute to Minter’s decision to maintain a Hold rating on Moderna’s stock.
In another report released on April 23, TD Cowen also maintained a Hold rating on the stock with a $30.00 price target.