Brookline Capital Markets Reiterates Moderna (MRNA) at Buy, "Platform Power Gets More and More Impressive"
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Brookline Capital Markets analyst Leah Rush Cann reiterated a Buy rating and $506.00 price target on Moderna (NASDAQ: MRNA), following the company's Annual Science Day.
The analyst comments: "Moderna’s platform progress and accomplishments reviewed at today’s Science meeting demonstrate the power the platform brings to Moderna’s future drug development. The impact from the platform advances is expected to be realized near-term, with the phase III candidate, MRNA-1647, a vaccine for CMV; and for the anticipated IND for VXc-522, being developed with Vertex for cystic fibrosis. Platform advancement leading to the VXc-522 IND could result in additional research in other pulmonary diseases with great unmet need resulting in attractive new markets for Moderna. We believe the platform advances de-risk future clinical development and support our valuation parameters for Moderna"
Shares of Moderna closed at $142.28 yesterday.
By Vlad Schepkov
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