Biotechnology company Moderna (NASDAQ:MRNA) is mulling a $130 price per COVID-19 dose in the U.S., according to Reuters.
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The development comes as the process of procuring and distributing vaccines transitions from the government to commercial market dynamics. The previously declared COVID-19 pandemic emergency is about to expire in May.
The company had received nearly $1.7 billion in funding for the development of the vaccine and raked in nearly $18 billion from its sales last year. Nonetheless, contributions from COVID-19 vaccine sales to its top line have seen a decline.
Overall, the Street has a $222.86 consensus price target on MRNA implying a hefty 44.2% potential upside in the stock. That’s after a 13.7% drop in the share price since the beginning of 2023.
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