Moderna price target raised to $38 from $35 at RBC Capital

RBC Capital analyst Luca Issi raised the firm’s price target on Moderna (MRNA) to $38 from $35 and keeps a Sector Perform rating on the shares after its better-than-expected Q1 results primarily driven by international markets. The firm notes that while it appreciates all the progress made on the infectious disease and cancer vaccine pipelines, and also remains positive on an organization that has shown much more financial rigor lately, at $18B market cap and with the stock up 55% year-to-date, it sees risk/reward on the stock remaining balanced.