Moderna gains over 14% after bullish recommendations 📌

Moderna is gaining 14.30% marking the highest intraday gain since late 2022 following an upgrade by Oppenheimer from Perform to Outperform. The investment bank highlighted the company's promising commercial prospects and advancements in its pipeline. The upgrade aligns with CEO Stéphane Bancel's 2023 shareholder letter, which highlighted Moderna's increased US market share for its COVID-19 vaccine. Analyst from Oppenheimer predicts Moderna will become one of the leading players in its sector by 2026, with sales growth accelerating in 2025 driven by multiple product launches, including vaccines against respiratory syncytial virus and influenza.

In 2023 Moderna was among the worst performing companies in the S&P 500 due to declining Covid-19 vaccine sales. The average analyst price target for Moderna is $126, suggesting potential upward momentum compared to the current price of $113 per share.

Source: xStation 5