Morgan Stanley raised the firm’s price target on Moderna (MRNA) to $33 from $30 and keeps an Equal Weight rating on the shares. Moderna delivered a Q1 beat on the top and bottom lines, but the focus remains “firmly” on the upcoming Phase 3 adjuvant melanoma interim data from cancer program mRNA-4157 partnered with Merck (MRK) expected later this year, the analyst tells investors.
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