William Blair analyst Myles Minter has maintained their neutral stance on MRNA stock, giving a Hold rating on June 26.
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Myles Minter has given his Hold rating due to a combination of factors related to Moderna’s recent clinical trial results. The company’s mRNA-1010 vaccine demonstrated superior efficacy compared to GlaxoSmithKline’s Fluarix in a Phase III study, particularly in adults over 50. This achievement is noteworthy as it opens up regulatory pathways for a combined flu and COVID-19 vaccine, potentially enhancing Moderna’s market position.
Despite these positive results, the lack of detailed methodology in calculating the relative vaccine efficacy (rVE) raises questions about the robustness of the findings. Additionally, the efficacy of Fluarix in the trial may differ from previous studies due to the older age demographic involved, which adds uncertainty to the comparative results. These factors contribute to a cautious outlook, leading to the Hold rating as investors await further clarity and developments.
In another report released on June 26, TD Cowen also maintained a Hold rating on the stock with a $30.00 price target.