Moderna Analyst: Coronavirus Vaccine Will Get Approved, Clock $5B+ In Orders Over Next Few Years – Benzinga

Jefferies $90 per share price target offers Moderna an assessment of $35 billion. This is based $15 billion appraisal for the stock, based on three-to-four times sales, and $15 billion to $20 billion platform worth, which is supported by a pipeline including 15 other prospects in the center, consisting of 5-10 vaccines and 5-19 other therapeutic programs.

Offered the probability of need to stay elevated in the very first 2 years, the expert estimates billions in sales. This is in spite of the sell-side remaining divided over whether Moderna will succeed in its pursuit for a coronavirus vaccine, he included.

As such, the firm believes the vaccine will get authorized and could do over $5 billion in orders over the next couple of years and the stock will head greater.

The Moderna Analyst: Jefferies analyst Michael Yee started coverage of Moderna with a Buy ranking and $90 rate target.

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Moderna Inc (NASDAQ: MRN) shares are surging above the $70 level for the very first time because late May following sell-side commentary on its coronavirus vaccine program.

MRNA Price Action: Moderna shares were soaring 16.8% to $73.14 at the time of publication.

The Moderna Thesis: There is good likelihood the vaccine will work and get a minimum of emergency situation approval by early 2021, Yee stated in a note, citing his conversations with crucial viewpoint leaders and disclosures made by the business so far.

Secret catalysts for the stock are the Phase 2 readout due in fall and possible interim Phase 3 readout by the end of the year, Yee stated.

“$ 35B on MRNA if it does have a novel mRNA platform that produced a COVID vaccine in less than a year would be worthy of appreciation, in our view,” Yee composed in the note.

Most Current Ratings for MRNA

Date
Company
Action
From
To

Jul 2020
Brookline Capital
Starts Coverage On

Purchase

Jul 2020
Jefferies
Initiates Coverage On

Purchase

Jun 2020
Barclays
Initiates Coverage On

Obese

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