(News Bulletin 247) – Oddo maintains its outperformance rating on Moderna shares with a price target revised downwards, from $250 to $247.
The analysis office reports that Moderna organized its vaccines day yesterday. ‘While we await these days the intermediate results of its phase III evaluating mRNA1010 in seasonal influenza, the management announced yesterday that its independent evaluation committee (DSMB) recommended continuing the study without opening it, at this stage’, underlines the analyst.
Moderna still aims to produce a single vaccine for three indications (Covid19, influenza and RSV) by 2025.
“For the first time, management has given a (wide) range of its expectations for this franchise: sales of between $8 and $15 billion in 2027 for an EBIT of between $4 and $9 billion by this horizon,” says Oddo.
In this context, ‘we remain in the short term dependent on the results of mRNA1010 in seasonal influenza followed by the launch of its RSV vaccine. The market is real for this last indication, but there is also competition with the parallel arrival of Pfizer and GSK’, concludes Oddo.
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