Leerink Partners Maintains Underperform Rating, PT Down to $15 for Moderna

Leerink Partners Maintains Underperform Rating, PT Down to $15 for Moderna

Leerink Partners has adjusted its price target for Moderna, Inc. (MRNA) to $15 from $18, while maintaining an underperform rating. The biotechnology company specializes in developing therapeutics and vaccines for various diseases, including cancer, infectious, autoimmune, and cardiovascular conditions.

Moderna's revenue streams are primarily derived from product sales (97.4%), followed by grant revenue (1.4%) and collaboration agreements (1.2%) [1]. At the end of 2023, the company possessed a robust portfolio of 41 products in clinical development, with 6 in phase III, 12 in phase II, and 18 in phase I, as well as 5 products in preclinical development. Geographically, the company's net sales are distributed across the United States (27.7%), Europe (19.8%), and other regions (52.5%) [1].

Leerink Partners' decision to lower the price target reflects a cautious outlook on the company's financial prospects. The adjustment comes amidst ongoing clinical trials and the company's focus on expanding its pipeline. Despite the underperform rating, the company's strong product portfolio and potential for future growth warrant close attention from investors.

References:
[1] https://www.marketscreener.com/news/leerink-partners-adjusts-price-target-on-moderna-to-15-from-18-maintains-underperform-rating-ce7c50dade8ff520