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Top COVID-19 vaccine manufacturer, but is its valuation reasonable?



Although global Covid-19 cases have decreased and are expected to gradually return to normal, there is still concern about mutant strains.

Jefferies analyst Michael Yee believes that the ghost of the new variant is Moderna (Ribonucleic acid) It is fully available.

“We firmly believe that MRNA will be traded on visibility beyond 2022. Among them, the ‘2.0’ variant vaccine is the focus, because Wall Street is worried that mutation will destroy the recovery. As long as there is mutation, MRNA may benefit because it can quickly adapt and make 2.0. And 3.0”, analysts believe.

Since the emergence of the South African variant, the variant has proven ineffective against Moderna’s Covid-1

9 vaccine m-RNA-1273, and the biotech company has begun testing the new variant. Yee hopes to get “positive” data in the summer. The analyst predicts that the world will make strong efforts to combat any new strains, and pointed out that some countries have already begun to order variant vaccines.

Yee believes that, regardless of whether there are new variants, the demand for Moderna vaccine is stronger than initially expected. When Yee reports fourth-quarter earnings this week (February 25), Yee hopes the company’s prospects will prove it.

Yee said: “MRNA has clearly become the leader in our opinion, and we expect the 2021 guidance will show this, including the potential $15-16B+ sales potential (we increase to $15B), much higher than Investor expectations six months ago.” “As the U.S. delivery time is 1-2 months ahead of schedule, MRNA manufacturing capacity seems to be improving well, and MRNA is expected to fulfill its 300 million commitment to the United States by the end of July. .”

On the contrary, the analyst said that some “valuation sensitive investors” may be “disheartened” by Moderna’s $63 billion market value. There is no doubt that this means that people have high expectations, and high multiples and a large number of stock appreciation are considered reasons why Yee temporarily maintains the stock holding rating.

In other words, Yee raised its target price from US$150 to US$180, which means that the current price has 13% upside. (To watch Yee’s record, click here)

The rest of Wall Street is cautiously inclined to the bullish side. MRNA’s moderate buy consensus rating is based on 6 buy ratings, 4 hold and 2 sell ratings. If the goal of $172.09 is achieved next year, there may be an 8% upside. (See MRNA stock analysis on TipRanks)

To find great ideas for coronavirus stocks with attractive valuations, visit TipRanks’ “Best Stocks to Buy”, a newly launched tool that brings together all of TipRanks’ stock insights.

Disclaimer: The views expressed in this article are only those of the analyst. The content is for reference only. Before making any investment, it is very important to conduct your own analysis.


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