Moderna Analyst Projects Transformation Into 'Five-Product Commercial Company' By 2026

Zinger Key Points
  • Moderna advances in cancer treatment, projected as "five-product commercial company" by 2026.
  • Analyst upgrades Moderna, citing pipeline potential and expected vaccine approvals in 2024-25.

Moderna Inc MRNA is back in focus as it is making advancements in cancer treatment.

Moderna is likely to become a “five-product commercial company” by 2026, according to Oppenheimer.

The Moderna Analyst: Hartaj Singh upgraded the rating for Moderna to Outperform, while raising the price target to $142.

Also Read: Bitcoin's $45K Feat Lifts Crypto Plays Pre-Market As Marathon Digital Stock, Riot Platforms Surge

The Moderna Thesis: Although COVID-19 vaccine sales had declined over the past two years, there has been a “marked uptick” in coronavirus hospitalizations, Singh said in the upgrade note.

Check out other analyst stock ratings.

“We expect OPEX to decrease significantly in 2024 and 2025, before picking up again, as sales pick up in 2025,” the analyst wrote.

Also Read: Tesla Stock Takes Off Premarket After Q4 Deliveries Exceed Expectation; Full-Year Sales Exceed 1.8 Million-Unit Target

He added that the company’s pipeline could be boosted by a pick-up in Phase III and product approvals in 2024-25, including:

  • RSV vaccine (mRNA-1345) – expected approval in 2024
  • Influenza vaccine (mRNA-1010) – expected readout and approval in 2024/25
  • INT (mRNA-4157) filing – “possibly utilizing the Accelerated Approval pathway - and approval in 2024/25”

MRNA Price Action: Shares of Moderna were up 13.5% to $112.88 at the time of publication Tuesday.

Now Read: China Housing Shock: Property Shares Under Renewed Pressure After Weak Data

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsMoversTrading IdeasExpert IdeasHartaj SinghOppenheimerStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!