Moderna price target raised to $180 from $155 at Jefferies

Jefferies analyst Michael Yee raised the firm’s price target on Moderna to $180 from $155 and keeps a Buy rating on the shares after having hosted a fireside chat with the company during the firm’s Healthcare Conference. RSV approval, avian flu optionality and increasing commentary on potential early filing on INT cancer vaccine were the primary topics in the firm’s fireside chat, where the company said it remains confident on hitting $4B guidance this year, which may even seem “slightly” conservative as they don’t assume 100% on the APAs which exist around the world, the analyst tells investors. Moderna’s upcoming catalysts include Phase 3 immunogenicity data for flu/covid combo likely in Q2, Phase 1/2 data for avian flu data coming likely in Q2 and Phase 3 CMV data by year-end 2024, the analyst noted.