Moderna (MRNA) Shares Could Increase $60 on Broad Booster Opportunity - Morgan Stanley
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Morgan Stanley analyst Matthew Harrison reiterated an Equalweight rating and $150.00 price target on Moderna (NASDAQ: MRNA) noting that a broad market for boosters could add $60 to the share price. Management released data showing three key implications:
1) The current vaccine appears to remain protective even with a loss of neutralization titer against the South African variant
2) Higher neutralizing antibodies appear to help create a buffer against any emerging strains which is why mgt. is preparing to test a booster
3) Whether variant specific boosters are required or just a booster of mRNA-1273, the analyst believes the likelihood that a booster market will materialize is increasing.
The analyst stated "COVID-19 variants increase the case for an endemic booster market. We believe Moderna and mRNA vaccines remain well positioned to address such a market. Our current model
includes ~$25/share in boosters, but a broader market could add $50-60/share".
Shares of Moderna closed at $145.45 yesterday.
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