Moderna (MRNA) Could Offset COVID Revenue via Rare Diseases - Morgan Stanley

June 23, 2022 6:37 AM EDT
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Price: $120.99 +2.32%

Rating Summary:
    10 Buy, 11 Hold, 1 Sell

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    Up: 6 | Down: 13 | New: 11
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Morgan Stanley analyst Matthew Harrison reiterated an Equalweight rating and $199.00 price target on Moderna (NASDAQ: MRNA) after performing a deep dive on the Rare Disease landscape and concluding that this could help to unlock a broad opportunity by derisking a wide range of rare diseases.

The analyst stated "Many rare diseases occur from a genetic mutation which limits protein production or causes the production of a defective protein. Traditional approaches with exogenous enzymes are limited by the types of
proteins they can target, their cost and the adverse reaction a patient may exhibit due to the foreign protein. We expect Moderna to present initial data in rare diseases PA/MMA in 2022. Initial proof of concept could unlock a broader rare disease pipeline because mgmt. can easily replace one mRNA with a new mRNA to target a new disease. While we expect initial data to be directional, we believe rare diseases could be an underappreciated long-term pipeline driver for Moderna."

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 $136.07 yesterday.

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