Moderna’s (NASDAQ:MRNA) CEO, Stéphane Bancel, stated in a letter to its shareholders that the company’s market share for COVID-19 vaccines in the U.S. rose to 48% in 2023 from 37% in 2022. The Pharmaceutical and biotechnology company is looking at the launch of its Respiratory Syncytial Virus (RSV) vaccine candidate in 2024, while a potential flu/COVID combo is expected to launch in 2025. Moderna anticipates that the launch of these vaccines could drive its sales growth in 2025.
Bancel, in his letter to shareholders, outlined cost optimization, doubling its number of Phase 3 programs, and launching 15 products over the next five years for organic growth. The company is targeting breaking even in 2026 as new product launches boost revenue and reduce its late-stage R&D expenses.
In the third quarter of Fiscal Year 2023, the company saw a decline in its sales but expects “COVID sales to stabilize in a fully endemic market, and we will build on our current momentum to grow our market share for Spikevax in 2024.”
What is the Future Price of MRNA Stock?
Analysts are cautiously optimistic about MRNA stock, with a Moderate Buy consensus rating based on six Buys, seven Holds, and two Sells. In the past year, MRNA stock has soared by more than 40%, and the average MRNA price target of $119.92 implies an upside potential of 20.6% at current levels.
