William Blair analyst Myles Minter has reiterated their neutral stance on MRNA stock, giving a Hold rating today.
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Myles Minter has given his Hold rating due to a combination of factors, centering on the regulatory divergence between Europe and the United States for Moderna’s respiratory vaccine franchise. He views the European Commission’s authorization of the combined flu/COVID product as incrementally positive and as supportive of eventual approval for the standalone flu vaccine, given the strong immunogenicity data versus both legacy flu shots and Moderna’s first-generation COVID vaccine.
However, he also underscores that U.S. regulators appear to be setting a stricter framework, requiring full review of the flu-only candidate before even considering the combination product, which could delay commercialization and revenue realization in Moderna’s largest market. In his view, this regulatory overhang tempers the otherwise favorable clinical and European regulatory momentum, leaving a risk‑reward profile that does not yet justify a more constructive rating and therefore supports maintaining a neutral Hold stance on the shares.
In another report released today, Bernstein also maintained a Hold rating on the stock with a $45.00 price target.

