In a report released on September 5, Eliana Merle from UBS maintained a Buy rating on Moderna, with a price target of $70.00.
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Eliana Merle’s rating is based on several factors influencing Moderna’s stock outlook. Despite the uncertainty surrounding COVID vaccine access due to recent changes in ACIP recommendations, Eliana believes that much of this uncertainty is already reflected in the current stock price. The potential hurdles in vaccine access, particularly in retail pharmacies across several states, are seen as manageable, with some states already finding ways to bypass these limitations.
Furthermore, Eliana notes positive indicators regarding insurance coverage for COVID vaccines, with entities like Kaiser and Walmart showing favorable signs. Conversations with Moderna suggest an optimistic outlook on payor coverage, which could bolster the company’s vaccine franchise. While there are significant uncertainties, particularly with the evolving ACIP committee’s stance, Eliana views the possibility of a market removal as unlikely, supporting her Buy rating on Moderna’s stock.
MRNA’s price has also changed moderately for the past six months – from $35.210 to $25.140, which is a -28.60% drop .