Investors aren't fully appreciating the broader uses for Moderna's mRNA vaccines, creating a big buying opportunity, UBS said Monday.
UBS did lower its price target to $191 from $221, though the new forecast implies upside of 61% from Friday's close.
MRNA YTD mountain Moderna stock has declined nearly 35% so far this year.
Merle pointed toward vaccines for respiratory syncytial virus (RSV), the flu and cytomegalovirus (CMV) as promising upside drivers for the company.
"We think MRNA's CMV vaccine could be a major potential upside driver over the next 1-2 years, with limited priced in (leading cause of birth defects, no approved vaccines)," Merle said.
Persons:
Eliana Merle, Merle, Michael Bloom
Organizations:
UBS, Moderna, UBs
Locations:
Moderna, Friday's, CMV