Moderna (MRNA) PT Raised to $179 at Oppenheimer, 'mResvia is competitive as an RSV vaccine'

Oppenheimer analyst Hartaj Singh raised the price target on Moderna (NASDAQ: MRNA) to $179.00 (from $163.00) while maintaining a Outperform rating.

The analyst commented: "Moderna's (MRNA) recently approved RSV vaccine mResvia is launching into an adult (≥60 years old) market with two seasoned competitors (GSK, PFE). The respiratory syncytial virus (RSV) is a large economic burden on societies, almost as large as influenza. In the US, while most infections are mild, a severe infection can lead to hospitalization and, on occasion, death. In 2023, two highly competitive vaccines (GSK, PFE) were approved. mResvia is the third RSV vaccine approved for adults ≥60 years, while GSK's Arexvy recently additionally got approval for adults ≥50. We increase US penetration estimates as we believe mResvia is competitive as an RSV vaccine, although expectations might be too low. Raising PT to $179 from $163, we stay bullish."

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