Moderna price target lowered to $32 from $34 at BofA

BofA analyst Tim Anderson lowered the firm’s price target on Moderna (MRNA) to $32 from $34 and keeps an Underperform rating on the shares. Expectations were previously tempered after the January guidance pre-announcement, so the Q4 results and 2025 guidance were “unsurprising,” but two new pipeline setbacks were disclosed, as the norovirus vaccine program is now on hold by the FDA following the emergence of one case of Guillain-Barre Syndrome and the combo flu+COVID program will require Moderna to demonstrate vaccine efficacy of the stand-alone flu component before approval can occur, the analyst tells investors.