Brookline Reaffirms Price Target for Moderna (MRNA) After Strong mRNA-1283 Vaccine Results

Moderna, Inc. (NASDAQ:MRNA) ranks among the best biotech stocks to buy. Following solid trial results for Moderna, Inc. (NASDAQ:MRNA)’s refrigerator-stable COVID-19 vaccine, Brookline Capital Markets reaffirmed its Buy rating and $198 price target for the company on September 23.

According to the new data, mNEXSPIKE/mRNA-1283 increased neutralizing antibodies against the LP.8.1 variant by an average of more than sixteen times, which Brookline regarded as “remarkably strong” when compared with Moderna’s initial COVID-19 vaccination and phase III registration results.

Brookline predicts that Moderna’s COVID-19 vaccine sales will total 10.9 million units in the United States this year, down from an expected 14.6 million in 2024, with possible global sales of $2.1 billion in 2025 and $15.6 billion by 2030.

Moderna, Inc. (NASDAQ:MRNA) is a biotechnology company dedicated to the discovery, development, and commercialization of mRNA-based medicines and vaccines. The company received solid recognition for its COVID-19 vaccine, which was one of the first mRNA vaccines to be created and delivered worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.