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Moderna price target raised to $111 from $102 at SVB Securities
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Moderna price target raised to $111 from $102 at SVB Securities

SVB Securities analyst Mani Foroohar raised the firm’s price target on Moderna (MRNA) to $111 from $102 and keeps a Market Perform rating on the shares after the company announced positive topline data from the ConquerRSV Phase 3 pivotal trial of its respiratory syncytial virus vaccine, mRNA-1345, in older adults. Based on high level comparison with VE from RSV vaccines from competitors Pfizer (PFE), GSK (GSK), and Johnson & Johnson (JNJ), the analyst sees these results as likely approvable and plausibly competitive with those agents – though this limited, topline disclosure offers an incomplete picture for comparison, and any numerical differences should consequently be taken with a grain of salt.

Published first on TheFly

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