Brookline Capital Markets Reiterates Buy Rating on Moderna (MRNA) on Japan's Vaccine Order

Brookline Capital Markets analyst Leah Rush Cann reiterated a Buy rating and $506.00 price target on Moderna (NASDAQ: MRNA), following supply agreement with Japan for additional 70M vaccine doses.

The analyst quotes: "To account for the 70 million additional doses purchased by the Government of Japan, we are making increases to our 2022 revenue and earnings. The impact to our outlook is an increase of 70 million doses in 2022, resulting in an 8.1% increase in estimated 2022 mRNA-1273 product sales, an 8.0% increase in estimated 2022 revenue and a 10.5% increase in estimated EPS and is detailed in this note. Our outlook for 2023 – 2030 is unchanged. We estimate Moderna will sell and deliver, globally, an estimated 1.177 billion doses of mRNA-1273 in 2022. Of the 1.177 billion doses of mRNA-1273 by the end of 2022, we estimate 234 million doses will be in the US and 943 million doses will be outside the US. This is in the range of previously announced production and distribution levels of up to 2.0-3.0 billion doses in 2022. We estimate that mRNA-1273, and follow-on COVID-19 vaccines, could have 2030 sales of $51.4 billion and account for 11.4% of Moderna’s 2030 revenue. "

For an analyst ratings summary and ratings history on Moderna click here. For more ratings news on Moderna click here.

Shares of Moderna closed at $148.12 yesterday.

By Vlad Schepkov | [email protected]

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