What Does the Street Think About Moderna, Inc. (MRNA)?

Moderna, Inc. (NASDAQ:MRNA) is one of the best healthcare stocks under $50 to invest in. Morgan Stanley reiterated a Hold rating on Moderna, Inc. (NASDAQ:MRNA) on February 2, setting a price target of $28.00. In a separate development, Moderna, Inc. (NASDAQ:MRNA) announced on January 29 a strategic collaboration with Recordati for the advancement of the former’s investigational propionic acidemia therapeutic, mRNA-3927, through the final stages of clinical development and global commercialization upon approval.

Based in Milan, Italy, Recordati is an international pharmaceutical group that offers treatments for specialty and primary care and rare diseases. Management reported that through the agreement, Moderna, Inc. (NASDAQ:MRNA) would continue to lead mRNA-3927’s clinical development approval, with Recordati leading commercialization. The terms of the agreement entail that Moderna, Inc. (NASDAQ:MRNA) would receive an upfront payment of $50 million and up to an additional $110 million in near-term development and regulatory milestones, along with commercial and sales milestones and tiered royalties on net sales. The company added that mRNA-3927 is currently under evaluation in a registrational study that has reached target enrollment, and that it anticipates a potential data readout in 2026.

Moderna, Inc. (NASDAQ:MRNA) is a biotech company that develops transformative medicines based on messenger RNA (mRNA). The company’s operations are divided into the following geographical segments: United States, Europe, and Rest of World. Its product pipeline includes several modalities, including prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, inhaled pulmonary therapeutics, and systemic intracellular therapeutics.

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