Moderna’s Price Target Raised to $77 as mFlusiva Wins 9-0 FDA Endorsement
MRNA•Piper Sandler reiterated an Overweight rating for Moderna and raised its price target from $69 to $77. An FDA advisory panel gave mFlusiva a unanimous 9-0 endorsement, and Moderna unveiled cancer treatments mRNA-2808, mRNA-2151 and autoimmune candidate mRNA-6007 in its pipeline expansion.
1. Analyst Rating Update
On June 26, Piper Sandler maintained an Overweight rating on Moderna and increased its 12-month price target from $69 to $77, reflecting stronger projected revenue from existing and upcoming products.
2. Flu Vaccine Panel Vote
Moderna’s seasonal flu vaccine, mFlusiva, secured a unanimous 9-0 endorsement from the FDA advisory panel for adults aged 50 and older, significantly boosting its odds for full approval and commercial launch this fall.
3. Research Pipeline Growth
At its Science Day event, Moderna detailed its next-generation mRNA candidates: mRNA-2808 targeting multiple myeloma, mRNA-2151 for ovarian cancer and mRNA-6007 addressing autoimmune disorders, marking a push beyond traditional infectious disease vaccines.
4. Stock Market Reaction
Following these developments, Moderna’s shares rose by 10.84% to $66.23, approaching a 52-week high of $67.74, and the company’s market capitalization climbed to approximately $26.3 billion.
