Moderna (MRNA) R&D Day Highlights COVID-19 Vaccine - Goldman Sachs

September 21, 2020 6:16 AM EDT
Get Alerts MRNA Hot Sheet
Price: $148.62 -4.09%

Rating Summary:
    8 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 24
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Goldman Sachs analyst Salveen Richter reiterated a Buy rating and $107.00 price target on Moderna (NASDAQ: MRNA) after attending the company's R&D day where management disclosed that the Ph3 mRNA-1273 vaccine study for COVID-19 has enrolled 25,296 participants (~30k planned), with ~10K having received a second vaccination. If vaccine efficacy (VE) is 60%, there is a <10% probability that MRNA is able to achieve success, however it increases to 50% on VE of 75%) - assumed to occur in November on a base case. MRNA anticipates Emergency Use Authorization (EUA) in 2020, on an assumption that mRNA-1273’s efficacy level is likely >60%.

The analyst stated "We continue to see growth potential for MRNA beyond the COVID-9/prophylactic vaccine vertical, with continued advancement of programs in oncology and rare disease, pipeline expansion (including developing a combination COVID-19, flu, RSV and hMPV vaccine), and recent collaborations with VRTX and Chiesi suggesting an interest in MRNA’s expertise".

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 $68.50 yesterday.

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