BioNTech SE - ADR BNTX and Novavax, Inc. NVAX shares are trading lower by 4.07% to $133.28 and 7.68% to $18.76, respectively, ahead of the close of Tuesday's session. Vaccine stocks are falling in sympathy with Moderna Inc MRNA after Morgan Stanley cut its price target on the stock.
What Else?
The analyst note by Morgan Stanley highlights concerns regarding Moderna's vaccine revenue guidance.
Per the Morgan Stanley note: "We believe management could lower expectations for 2023 COVID boosters as consensus' $10B est. is well above our range of signed APAs (~$2-3.8B) and our estimate of potentialguidance (~$5-10B). The 3Q call may be a good opportunity to reset MRNA ahead of Ph2/3 data catalysts on RSV, PCV and flu."
The analyst note goes on to mention how "Investors are concerned aboutmanagement's ability to bracket consensus expectations of ~$10B in COVID vaccine revenues."
See Also: Why Norwegian Cruise Line And Royal Caribbean Group Shares Are Rising During Tuesday's Session
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