Analyst David Risinger of Leerink Partners reiterated a Sell rating on Moderna (MRNA – Research Report), with a price target of $27.00.
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David Risinger has given his Sell rating due to a combination of factors related to ongoing legal challenges faced by Moderna. ROIV and ABUS have intensified their legal actions against Moderna by pursuing patent infringement cases concerning lipid nanoparticle technology used in Moderna’s mRNA vaccines. These legal battles are not limited to the United States but extend to international markets, where injunctions on sales could significantly impact Moderna’s revenue streams.
Furthermore, the potential for monetary relief and injunctions against other Moderna products using the same technology, such as mResvia, adds to the financial risks. Although the revenue from mResvia has been minimal, the broader implications for Moderna’s profit margins and pipeline are concerning. The expected timeline for the first hearings and decisions in these cases could create uncertainty for Moderna in the near to mid-term, influencing Risinger’s decision to rate the stock as a Sell.
In another report released on February 17, Bank of America Securities also reiterated a Sell rating on the stock with a $32.00 price target.