Moderna price target raised to $150 from $115 at Argus

Argus raised the firm’s price target on Moderna to $150 from $115 and keeps a Buy rating on the shares. The firm noted that the company recently reported positive Phase 3 results for both of its investigational next-generation COVID-19 vaccine and its combination vaccine targeting both COVID-19 and influenza. Argus cautions, however, that any unexpected negative developments for Moderna’s pipeline products could result in a “sharp” stock selloff.