Moderna stock was trading at $124.35 as of 10:34AM EDT.
Moderna (NASDAQ:MRNA) has been upgraded by SVB Leerink from underperform to market perform, claiming that it will profit from a potential price hike for COVID-19 vaccinations when distribution shifts to the private market from a government-supervised system the next year.
The company increased its price objective from $74 to $101 (a 15% downside based on Thursday’s close).
Assuming Moderna (NASDAQ:MRNA) priced its COVID vaccine in 2023 as a sensible duopolist, analyst Mani Foroohar noted that the move would significantly increase the company’s prospects of hitting its 2023 revenue target.
Phase 2 data from the customized cancer vaccine (PCV) developed by Moderna (NASDAQ:MRNA) and partner Merck (MRK) are anticipated this quarter, and they could support the bull case even more, the speaker continued.
SVB also raised the likelihood that the PCV and respiratory syncytial virus vaccine candidates would be successful.
Moderna stock earnings forecast
Spikevax, a COVID-19 vaccine manufactured by Moderna, is a super-blockbuster with first-half 2022 sales of $10.5 billion. Sales of Spikevax decreased in the second quarter as almost everyone who wanted a vaccine shot had already received one. In August, the FDA granted Emergency Use Authorization for a brand-new booster that targets the omicron variety. Sales may plateau in the second half of 2022 because it is one of just two boosters that specifically target the COVID-19 virus.
From this point forward, Moderna will likely frequently introduce new boosters that address prevalent COVID-19 virus strains, much as other vaccine producers do with their yearly flu vaccinations. Potential new products could truly spur expansion thanks to the COVID-19 vaccine’s comparatively steady financial flows.
Moderna boasted of having 24 novel medication candidates in clinical development in September. Four of these programs are now undergoing phase 3 studies. Three years ago, Moderna only had eight programs in clinical-stage testing and none in phase 3. Two of Moderna’s late-stage prospects are intended to treat infectious disorders for which there are no reliable vaccinations.
Moderna is a mid-sized pharmaceutical firm with a market valuation of around $54 billion at current prices. Moderna will virtually triple the number of medicines it sells by the end of 2024 if half the vaccines it has in late-stage testing continue to be successful. However, there is no assurance that Moderna’s vaccine candidates will receive good ratings. A failure of clinical trials could still severely impact this stock and prevent a 100% gain from being realized.
The Future Is Bright For Moderna, So Buy It Now
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Author Jowi Kwasu 
