Moderna price target raised to $179 from $163 at Oppenheimer

Oppenheimer analyst Hartaj Singh raised the firm’s price target on Moderna to $179 from $163 and keeps an Outperform rating on the shares. The firm notes Moderna’s recently approved RSV vaccine mResvia is launching into an adult market with two seasoned competitors. The respiratory syncytial virus is a large economic burden on societies, almost as large as influenza. Oppenheimer increased U.S. penetration estimates as it believes mResvia is competitive as an RSV vaccine, although expectations might be too low.