Moderna Inc MRNA shares are trading lower by 4.11% to $133.52 going into the close of Tuesday's session after Morgan Stanley maintained an Equal-Weight rating on the stock and cut its price target from $197 to $175.
What Else?
The analyst note by Morgan Stanley highlights concerns regarding Moderna's vaccine revenue guidance.
Per the Morgan Stanley note: "We believe management could lower expectations for 2023 COVID boosters as consensus' $10B est. is well above our range of signed APAs (~$2-3.8B) and our estimate of potentialguidance (~$5-10B). The 3Q call may be a good opportunity to reset MRNA ahead of Ph2/3 data catalysts on RSV, PCV and flu."
The analyst note goes on to mention how "Investors are concerned aboutmanagement's ability to bracket consensus expectations of ~$10B in COVID vaccine revenues."
See Also: Why Norwegian Cruise Line And Royal Caribbean Group Shares Are Rising During Tuesday's Session
According to data from Benzinga Pro, Moderna has a 52-week high of $376.65 and a 52-week low of $115.03.
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