Followers | 91 |
Posts | 3296 |
Boards Moderated | 0 |
Alias Born | 10/18/2010 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, July 23, 2020 3:12:35 PM
The Moderna Analyst: SVB Leerink analyst Mani Foroohar initiated coverage of Moderna with a Market Perform rating and $65 price target.
The Moderna Thesis: The intense unmet need and the political will to get one or more vaccines approved are likely to sway regulators into showing substantial flexibility for vaccine candidates against SARS-CoV-2, the virus that causes COVID-19, Foroohar said in a Thursday initiation note. (See his track record here.)
"As a result, odds of approval for MRNA-1273 and competing therapies are high, even if pivotal clinical datasets show some inadequacies or inconsistencies," the analyst said.
Initial demand for the vaccine should be robust, he said.
SVB Leerink's base case estimates are modestly above the consensus for 2021.
Medium- and long-term expectations are unlikely to be met unless Moderna shows a best-in-class profile, Foroohar said.
This is an unlikely proposition for Moderna, given its many competitors, including big biopharma players pursuing mRNA strategies similar to Moderna's, the analyst said.
SVB Leerink also sees commoditization risk even in the face of excellent data, as many companies are entering the market in a short time — and considering the early price point implied by Pfizer Inc. (NYSE: PFE)/BioNTech SE's – ADR supply agreement with the U.S. government.
This scenario implies a price target of $19 per share attributable to Moderna's vaccine program, Foroohar said.
While being optimistic about Moderna's mRNA-1273, the analyst said he's uncomfortable with Moderna's valuation, even after ascribing value to a dozen programs, many of which are quite early.
"Without major pipeline catalysts to counterbalance competitive risk to MRNA-1273, we view risk/reward as unappealing at this valuation."
MRNA Price Target: Moderna shares were trading down 3.17% at $80.59 at last check Thursday.
Recent MRNA News
- Apple Joins OpenAI Board, Logitech President Opts Out of Reelection, and More News • IH Market News • 07/03/2024 10:59:39 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:05:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 04:45:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:05:15 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/10/2024 07:16:06 PM
- Apple Showcases AI at WWDC 2024, Nvidia Stock Split Starts Today, and More News • IH Market News • 06/10/2024 11:29:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 09:27:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 09:20:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 09:12:54 PM
- Economic Worries May Lead To Weakness On Wall Street • IH Market News • 06/04/2024 01:10:54 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 07:36:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 07:20:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 07:11:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:36:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:27:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 08:14:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:16:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 08:12:34 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/29/2024 07:22:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/29/2024 07:20:31 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/29/2024 07:14:22 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/29/2024 07:12:39 PM
- Robinhood Shares Surge 3.3% on Stock Buyback Announcement; Anglo Declines BHP Deadline Extension, and More News • IH Market News • 05/29/2024 11:34:18 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 07:21:47 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 07:21:45 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM