Moderna price target lowered to $69 from $115 at Piper Sandler

Piper Sandler lowered the firm’s price target on Moderna (MRNA) to $69 from $115 and keeps an Overweight rating on the shares. The firm notes shares hit new 52-week low on Friday, which has not been seen since the early days of the pandemic, most recently over the Robert F. Kennedy Jr. nomination to lead HHS. While COVID vaccinations continue to decline, mRESVIA disappoints and RFK Jr. introduces uncertainty, Piper sees this as an attractive long-term entry point.