The race to be first to market with a COVID-19 vaccine is changing gears. As the companies developing vaccine/therapeutics move further down the development path, the commercial aspect is starting to take a more prominent part in the conversation.
MRNA) is one of the companies currently leading the pack, but it needs to be vigilant of rivals’ progress. Shares of Moderna hit a speed bump on Wednesday and trended downwards on account of positive developments in the progress of rivals Novavax (NVAX) and Johnson & Johnson’s (JNJ) respective COVID-19 vaccine programs.” data-reactid=”13″>mRNA vaccine maker Moderna (MRNA) is one of the companies currently leading the pack, but it needs to be vigilant of rivals’ progress. Shares of Moderna hit a speed bump on Wednesday and trended downwards on account of positive developments in the progress of rivals Novavax (NVAX) and Johnson & Johnson’s (JNJ) respective COVID-19 vaccine programs.
Novavax’ candidate NVX-CoV2373 performed well in a phase 1 study and drew positive responses from several Street analysts. While J&J’s pricing ($10 per dose in its deal with the U.S. government) might put pressure on Moderna to significantly reduce the $32 to $37 per dose price range its small volume deals have bought in so far for mRNA-1273, its COVID-19 vaccine candidate.
Nevertheless, so far, Moderna’s candidate is making its way smoothly through the clinical trial process.
Hartaj Singh. The 5-star analyst believes Moderna is well positioned to build on the several agreements it has already made to supply $400 million’s worth of the potential vaccine.” data-reactid=”20″>And that is where the key focus lies. Should the company report positive data from the recently initiated Phase 3 mRNA-1273 trial, then the rules of the game will change in its favor. This is a point picked by Oppenheimer analyst Hartaj Singh. The 5-star analyst believes Moderna is well positioned to build on the several agreements it has already made to supply $400 million’s worth of the potential vaccine.
Singh opined “As the global community now sets its sights on potential late-stage COVID-19 vaccine data over the coming quarters, a greater share of the conversation has shifted toward commercialization and pricing… While MRNA navigates vaccine supply agreements and a potential commercialization of mRNA-1273, we anticipate volatility in the shares to continue. Nonetheless, clinical updates from P2 and eventually P3, in parallel with a further clarified regulatory path to approval, position MRNA well over the coming 12-18 months, in our view.”
click here)” data-reactid=”22″>Accordingly, Singh keeps his Outperform (i.e. Buy) rating as is, along with a $108 price target. What does it mean for investors? Upside potential of 47% from current levels. (To watch Singh’s track record, click here)
See Moderna stock analysis on TipRanks)” data-reactid=”23″>The rest of the Street concurs. 12 Buy ratings and 3 Holds coalesce to a Strong Buy consensus rating. With an average price target of $92.54, the analysts forecast upside of 28% over the coming months. (See Moderna stock analysis on TipRanks)
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