Moderna price target lowered to $105 from $150 at Argus

Argus lowered the firm’s price target on Moderna to $105 from $150 and keeps a Buy rating on the shares. The analyst expects Moderna to continue to address important health risks through its mRNA platform. However, any unexpected negative developments for the company’s pipeline products could result in further declines in the shares, the analyst tells investors in a research note. The firm views Moderna “as appropriate for risk-tolerant investors as part of a diversified portfolio.” Argus says the current “discounted price” offers a buying opportunity.