Oppenheimer Keeps Their Buy Rating on Moderna Inc (MRNA)

By Ryan Adsit

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Moderna Inc (MRNAResearch Report) today and set a price target of $27. The company’s shares opened today at $16.29.

Cann said:

“Vaccines for Chikungunya are included in Moderna’s current 21 programs, but we have not included it in the 13 focus programs. We have not included any sales impact from its vaccines for Chikungunya, neither mRNA-1944 nor mRNA-1388, in our estimates through 2030; however, Chikungunya is a meaningful threat to human health and could provide upside to our outlook. Preclinical studies of mRNA-1944 are very encouraging, and we anticipate information from the phase I study could inform a pivotal study for mRNA-1944. Importantly, in addition to providing an additional therapeutic area for Moderna, mRNA-1944 development is expected to provide important platform insights into using mRNAs systemically.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 10.8% and a 50.4% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Moderna Inc with a $24.71 average price target, implying a 51.7% upside from current levels. In a report issued on January 22, Piper Jaffray also reiterated a Buy rating on the stock with a $24 price target.

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The company has a one-year high of $22.75 and a one-year low of $13.03. Currently, Moderna Inc has an average volume of 1.58M.

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Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid (mRNA). Its product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, and systemic intracellular therapeutics.