Moderna (MRNA) Could Offset COVID Revenue via Rare Diseases - Morgan Stanley
- Wall Street closes with sharp gains as final quarter begins
- Tesla (TSLA) Now 'Unlikely' to Hit Its 50% Delivery Growth Goal for 2022 - Analyst
- U.S. manufacturing nearly brakes; price pressures abating
- Citi Cuts Year-end S&P 500 Price Target to 4000, Introduces 2023 PT of 3900
- Oil jumps about $4 as OPEC+ weighs biggest output cut since 2020
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Moderna closed at $136.07 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Today's Most Important Upgrades
- Moderna (MRNA) CEO Files to Sell ~$5M in Stock
- DocuSign (DOCU) Stock Falls 4% After Morgan Stanley Downgrade to Underweight
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesMorgan Stanley
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!