UPDATE: Correction: Moderna (MRNA) PT Raised to $353 at Brookline Capital Markets, Following Clinical Business Update
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(Updated - August 2, 2021 1:36 PM EDT)
(Updated to correct target prices, previously reported 224 --> 352)
Brookline Capital Markets analyst Leah Rush Cann raised the price target on Moderna (NASDAQ: MRNA) to $353.00 (from $352.00) while maintaining a Buy rating.
Analyst comments: "We believe this is an important development for Moderna, to initiate this phase I study with subcutaneously administered mRNA candidate addressing autoimmune disease. We currently estimate, that if approved, mRNA-6231 could enter the market in 2029, and conservatively estimate it will achieve and 1.0% market penetration in this setting in 2030, resulting in worldwide estimated sales for mRNA-6231 of $1.45 billion in 2030. We estimate meaningful impact coult result post-2030, based on the target market opportunity presented by autoimmune disease market.
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