Moderna (MRNA) PT Lowered to $60 at TD Cowen

5 takeaways from Moderna's investor day

September 13, 2024 7:00 PM EDT

Moderna (NASDAQ: MRNA) held its R&D Day on September 12, with the company providing key updates on its strategic and commercial outlook.

Here are Morgan Stanleys five main takeaways from the event.

Guidance Adjustments: Morgan Stanley noted that Moderna revised its 2025 revenue guidance to between $2.5 billion and $3.5 billion, down from earlier expectations of "returning to growth" from a $4 billion base in 2024.

According to the bank, this revision reflects increased uncertainty in vaccine... More

Oppenheimer Downgrades Moderna (MRNA) to Perform

September 13, 2024 6:57 AM EDT

Oppenheimer analyst Hartaj Singh downgraded Moderna (NASDAQ: MRNA) from Outperform to Perform.

The analyst comments "MRNA's R&D Day highlights evolving clinical and financial goals while implementing a strategic re-prioritization of the clinical portfolio with the intention of constructing a more diversified suite of... More

Moderna (MRNA) PT Lowered to $75 at RBC Capital

September 13, 2024 6:33 AM EDT

RBC Capital analyst Luca Issi lowered the price target on Moderna (NASDAQ: MRNA) to $75.00 (from $90.00) while maintaining a Sector Perform rating.

The analyst comments "Tough update with breaking even pushed out by an additional two years (from 2026 to 2028) as the R&D cuts announced today ($1.1b by 2027) are more than offset by higher... More

Moderna (MRNA) PT Lowered to $238 at Brookline Capital Markets

September 13, 2024 5:37 AM EDT

Brookline Capital Markets analyst Leah Rush Cann lowered the price target on Moderna (NASDAQ: MRNA) to $238.00 (from $310.00) while maintaining a Buy rating.

The analyst comments "Todays R&D Day reviewed the status of the commercial COVID-19 product line, which is in-line with our expectations published in our recent reports for... More

Jefferies Downgrades Moderna (MRNA) to Hold

September 13, 2024 3:35 AM EDT

Jefferies analyst Michael Yee downgraded Moderna (NASDAQ: MRNA) from Buy to Hold with a price target of $65.00 (from $120.00).

The analyst said: "Long-awaited guidance cut sees profitability pushed out to 2028 from 2026, but we still see risk alongside concerns the company may... More

JPMorgan Downgrades Moderna (MRNA) to Underweight

September 13, 2024 3:22 AM EDT

JPMorgan analyst Jessica Fye downgraded Moderna (NASDAQ: MRNA) from Neutral to Underweight with a price target of $70.00 (from $88.00).

The analyst comments: "Arguably, the reset to Moderna's long-term guidance should not come as a surprise, and while we were not modelling breakeven in 2026, we are still lowering our top- and bottom-line estimates. We are projecting the launch of multiple new products over the coming years, however... More

Evercore ISI Reiterates In Line Rating on Moderna (MRNA)

September 12, 2024 9:04 AM EDT

Evercore ISI analyst Cory Kasimov reiterated an In Line rating and $105.00 price target on Moderna (NASDAQ: MRNA).

The analyst comments "Moderna published a thorough R&D overview and also updated / extended its financial guidance ahead of todays R&D Day in NYC. On the pipeline front, the most market material update is probably the lower likelihood of an early filing for INT. On the financial... More

Morgan Stanley on Moderna (MRNA): 'we expect MRNA shares to trade off this morning'

September 12, 2024 8:26 AM EDT

Morgan Stanley analyst Matthew Harrison reiterated an Equalweight rating and $94.00 price target on Moderna (NASDAQ: MRNA)

The analyst comments "This morning MRNA provided updates on portfolio prioritization and new guidance ahead of the company's R&D day. MRNA plans to break even in... More

Jefferies Reiterates Buy Rating on Moderna (MRNA)

September 12, 2024 8:07 AM EDT

Jefferies analyst Michael Yee reiterated a Buy rating and $120.00 price target on Moderna (NASDAQ: MRNA).

The analyst comments "

Ahead of MRNA's R&D update this morning, they announced several updates with key being they plan to cut R&D spend though the bulk of the cut of $1.1B won't be until 2027. This now delays profitability until 2028 (vs prior guidance of 2026). 2025 revenue guidance is now $2.5-3.5B and below consensus of $3.8-4B too.... More

Moderna shares plunge after cutting research budget

September 12, 2024 6:27 AM EDT

(Updated - September 12, 2024 9:57 AM EDT)

Moderna (NASDAQ: MRNA) stock plunged more than 18% Thursday following its announcement of cuts to its research and development (R&D) budget.

The drugmaker revealed at its annual R&D Day that it plans to reduce its R&D expenses by approximately $1.1 billion, lowering projected costs from $4.8 billion in 2024 to between $3.6 billion and $3.8 billion by 2027.

The company explained that the decision is part of its broader strategy to prioritize its existing product pipeline and focus on commercial growth.

CEO Stéphane Bancel highlighted Moderna's success in... More

Moderna forecasts lower sales next year, shares near four-year low

September 12, 2024 6:15 AM EDT

By Patrick Wingrove

(Reuters) -Moderna pushed back its break-even goal by two years on Thursday as it delayed the timeline for developing several key products and predicted 2025 sales below its forecast for the current year, sending its shares closer to a four-year low.

Shares of the vaccine maker tumbled 17.1% to $65.88 at midday.

The company expects sales between $2.5 billion and $3.5 billion in 2025, below analysts' forecast of $3.74 billion, according to LSEG data. The midpoint was also below the $3 billion to $3.5 billion in sales it projected for 2024.

The company, which has been struggling to shift away... More

Moderna (MRNA) R&D Day Highlights Progress and Strategic Priorities

September 12, 2024 6:03 AM EDT

Focuses on ten product approvals through 2027

Expects to submit next-generation COVID vaccine for approval in 2024

Expects to submit flu/COVID combination vaccine for approval in 2024

Announces positive Phase 3 results for its RSV vaccine for high-risk adults aged 18 to 59; expects to submit sBLA for U.S. approval in 2024

Announces positive Phase 3 results for its standalone flu vaccine for adults aged 65 and older relative to high-dose licensed comparator

Announces norovirus vaccine advances into Phase 3 study, bringing the total of non-respiratory pivotal... More

Moderna (MRNA) option implied volatility elevated into investor meeting

September 12, 2024 5:15 AM EDT

Moderna (NASDAQ: MRNA) September call option implied volatility is at 94, September is at 68; compared to its 52-week range of 40 to 66 into investor meeting today. Call put ratio 1.1 calls to 1 put.

... More

Moderna (MRNA) call put ratio 1.9 calls to 1 put into investor meeting

September 11, 2024 4:34 AM EDT

Moderna (NASDAQ: MRNA) September call option implied volatility is at 94, September is at 72; compared to its 52-week range of 40 to 66 into investor meeting on September 12. Call put ratio 1.9 calls to 1 put.

... More