Needham Reiterates Hold Rating on Moderna (MRNA)

Needham analyst Joseph Stringer reiterated a Hold rating and {REMOVEPT} price target on Moderna (NASDAQ: MRNA).

The analyst commented: "Highlights & takeaways from MRNA's R&D day yesterday included 1) the announcement of a $1.5B non-dilutive, 5-year debt facility, which provides a much-needed capital infusion and a measure of financial flexibility, 2) guide for "cash breakeven" in 2028 reiterated, 3) guide for "up to 10%" revenue growth in 2026, which is above the current consensus of ~7% y/y growth, 4) multiple R&D programs discontinued (GSD1a, HSV, VZV), and 5) MRNA's evolving R&D strategy away from vaccines and into oncology. In our view, the MRNA story remains in flux, as the company continues to right-size and diversify its pipeline away from vaccines. We think the increasingly large oncology pipeline will play a big role in the turnaround story in our view, but we await more de-risking data readouts. Maintain Hold."

For an analyst ratings summary and ratings history on Moderna click here. For more ratings news on Moderna click here.

Shares of Moderna closed at $22.36 yesterday.

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