Moderna R&D Day Highlights Progress and Strategic Priorities

Oppenheimer Downgrades Moderna (MRNA) to Perform

Oppenheimer analyst Hartaj Singh downgraded Moderna (NASDAQ: MRNA) from Outperform to Perform.

The analyst comments "MRNA's R&D Day highlights evolving clinical and financial goals while implementing a strategic re-prioritization of the clinical portfolio with the intention of constructing a more diversified suite of... More

Moderna (MRNA) PT Lowered to $75 at RBC Capital

RBC Capital analyst Luca Issi lowered the price target on Moderna (NASDAQ: MRNA) to $75.00 (from $90.00) while maintaining a Sector Perform rating.

The analyst comments "Tough update with breaking even pushed out by an additional two years (from 2026 to 2028) as the R&D cuts announced today ($1.1b by 2027) are more than offset by higher... More

Moderna (MRNA) PT Lowered to $238 at Brookline Capital Markets

Brookline Capital Markets analyst Leah Rush Cann lowered the price target on Moderna (NASDAQ: MRNA) to $238.00 (from $310.00) while maintaining a Buy rating.

The analyst comments "Todays R&D Day reviewed the status of the commercial COVID-19 product line, which is in-line with our expectations published in our recent reports for... More

Moderna (MRNA) PT Lowered to $60 at TD Cowen

TD Cowen analyst Tyler Van Buren lowered the price target on Moderna (NASDAQ: MRNA) to $60.00 (from $70.00) while maintaining a Hold rating.

The analyst comments "Kudos to mgmt for reducing R&D by $1.1B by '27, and for extending guidance to breakeven to a... More

Evercore ISI Reiterates In Line Rating on Moderna (MRNA)

Evercore ISI analyst Cory Kasimov reiterated an In Line rating and $105.00 price target on Moderna (NASDAQ: MRNA).

The analyst comments "Moderna published a thorough R&D overview and also updated / extended its financial guidance ahead of todays R&D Day in NYC. On the pipeline front, the most market material update is probably the lower likelihood of an early filing for INT. On the financial... More

Morgan Stanley on Moderna (MRNA): 'we expect MRNA shares to trade off this morning'

Morgan Stanley analyst Matthew Harrison reiterated an Equalweight rating and $94.00 price target on Moderna (NASDAQ: MRNA)

The analyst comments "This morning MRNA provided updates on portfolio prioritization and new guidance ahead of the company's R&D day. MRNA plans to break even in... More

Jefferies Reiterates Buy Rating on Moderna (MRNA)

Jefferies analyst Michael Yee reiterated a Buy rating and $120.00 price target on Moderna (NASDAQ: MRNA).

The analyst comments "

Ahead of MRNA's R&D update this morning, they announced several updates with key being they plan to cut R&D spend though the bulk of the cut of $1.1B won't be until 2027. This now delays profitability until 2028 (vs prior guidance of 2026). 2025 revenue guidance is now $2.5-3.5B and below consensus of $3.8-4B too.... More

Moderna shares plunge after cutting research budget

(Updated - September 12, 2024 9:57 AM EDT)

Moderna (NASDAQ: MRNA) stock plunged more than 18% Thursday following its announcement of cuts to its research and development (R&D) budget.

The drugmaker revealed at its annual R&D Day that it plans to reduce its R&D expenses by approximately $1.1 billion, lowering projected costs from $4.8 billion in 2024 to between $3.6 billion and $3.8 billion by 2027.

The company explained that the decision is part of its broader strategy to prioritize its existing product pipeline and focus on commercial growth.

CEO Stéphane Bancel highlighted Moderna's success in... More