Moderna (MRNA) faces competitive pressure in several markets as its COVID-19 vaccine share is projected to decline to 40% and uncertainties persist regarding respiratory syncytial virus recommendations and manufacturing plant licensure outside the US, Morgan Stanley said in a note Wednesday.
The company's plans to reduce operating costs to $5.5 billion in 2025 and to $5 billion in 2026 will require scaling back some early-stage programs and improving operational efficiency, according to the note.
Morgan Stanley said Moderna's pipeline progress remains critical and melanoma trial with Merck (MRK) is "likely the most significant opportunity," but developments in cytomegalovirus vaccine are an immediate focus.
Morgan Stanley reduced its revenue expectations for 2030/2035 to $5.5 billion/$7.8 billion from $7.9 billion/$10.9 billion due to lower sales for mRESVIA, SpikeVax and Covid+flu and removal of revenue from phenylketonuria pipeline program.
The brokerage lowered its price target on Moderna's stock to $38 from $70 with an equal-weight rating.
Price: 34.83, Change: +0.37, Percent Change: +1.06
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。