Moderna (MRNA) Shares Could Increase $60 on Broad Booster Opportunity - Morgan Stanley

January 26, 2021 7:52 AM EST
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Price: $167.65 +6.93%

Rating Summary:
    8 Buy, 6 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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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".

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 $145.45 yesterday.

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