Key Takeaways
- Moderna Inc. Chief Executive Officer (CEO) Stephane Bancel said Tuesday the vaccine maker expects sales to increase in 2025.
- Oppenheimer & Co. securities analysts upgraded the stock to “outperform,” saying they expect the company will have five products on the market by 2026.
- Shares of Moderna, which struggled in 2023 as COVID-19 vaccine demand waned, jumped Tuesday on the news.
Moderna Inc. (MRNA) shares soared 15% Tuesday as the vaccine maker got two pieces of positive news.
First, Chief Executive Officer (CEO) Stephane Bancel said he believes the company would experience sales growth in 2025. In a letter to shareholders Tuesday, Bancel said the company is optimistic as it expects the launch of Moderna’s respiratory syncytial virus (RSV) vaccine candidate this year and could potentially launch of a combination flu/COVID-19 shot as early as 2025.
Along with Bancel’s comments, Moderna shares got a lift Tuesday when brokerage firm Oppenheimer & Co. upgraded the stock to “outperform,” arguing that Moderna could develop ways to use its mRNA technique to fight diseases beyond COVID-19 over the next few years.
Analysts at Oppenheimer led by Hartaj Singh wrote they believe the company will have five new products on the market by 2026.
Currently, Moderna‘s COVID-19 vaccines are its only commercially available products. Over the next two years, the company said it will focus on increasing revenue and profitability in part by targeting commercial execution.
Sales struggled as fewer people opted to get COVID-19 vaccinations or booster shots in 2023. That sent shares tumbling more than 40% last year, making it one of the stocks in the S&P 500 that struggled the most.
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