MRNA Stock Price: $109 Target By BMO

By Amit Chowdhry ● November 22, 2020
  • Shares of Moderna Inc (NASDAQ: MRNA) have received a price target of $109 by BMO Capital. These are the details.

Shares of Moderna Inc (NASDAQ: MRNA) have received a price target of $109 by BMO Capital. And BMO Capital analyst George Farmer downgraded Moderna to “Market Perform” from “Outperform.”

Farmer believes that there is limited upside following the rally after the positive Phase 3 outcome of the COVID-19 vaccine. And Farmer noted that a near-term best case scenario is mostly reflected in the shares, including mRNA-1237 Emergency Use Authorization from the FDA before year-end and full approval in mid-2021. So Farmer recommends taking some profits from Moderna.

“Although we recommend taking some profits… the now proven potential of MRNA’s RNA/LNP platform establishes the company as a new vaccine development powerhouse,” wrote Farmer in the report via Seeking Alpha.

The stock price of Moderna has increased 37.79% over the past month and it especially saw on an uptick on November 16 when the 94.5% vaccine efficacy was announced.

For the year-to-date, the stock price of Moderna is up about 400% as the stock price had closed at $19.23 as of January 2 and now it is trading at $97.21.

BMO Capital is not the only brokerage that published a research report about Moderna recently. Redburn Partners initiated coverage with a Sell rating. Chardan Capital increased their price target of Moderna from $93 to $107 and upgraded their rating from “Positive” to “Buy.” And Oppenheimer increased their price target from $108 to $157 and assigned the company an “Outperform” rating. And Piper Sandler increased its price target from $136 to $166 with an “Overweight” rating.