Moderna

MRNA · NASDAQ

$242.08+$15.19 (+6.69%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $226.89

MRNA analyst rating

HoldConsensus of 19 analysts over the last 12 months. 16% rate it a buy.

Strong buy0
Buy3
Hold11
Underperform3
Sell2

12-month price target · 22 analysts

Average $121.15 (−50.0% downside)

Low: $40.40
Now: $242.08
High: $178.50

Upgrades and downgrades

The latest rating actions, newest first

MRNA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Goldman Sachs	Oct 15, 2026	Maintains	Neutral	$120.00 → $137.00	47%
Morgan Stanley	Oct 7, 2026	Maintains	Equal-Weight	$89.00 → $95.00	63%
Citigroup	Sep 30, 2026	Downgrade	Neutral → Sell	$60.00 → $80.00	60%
Rothschild & Co	Sep 3, 2026	Downgrade	Neutral → Sell	$40.00 → $81.00	20%
Argus Research	Aug 28, 2026	Upgrade	Hold → Buy	$180.00	65%
Wolfe Research	Aug 25, 2026	Upgrade	Underperform → Peer Perform	—	77%
Barclays	Aug 24, 2026	Maintains	Equal-Weight	$48.00 → $125.00	45%
JP Morgan	Aug 21, 2026	Maintains	Underweight	$40.00 → $77.00	57%
Goldman Sachs	Aug 20, 2026	Maintains	Neutral	$67.00 → $120.00	47%
UBS	Aug 20, 2026	Maintains	Neutral	$50.00 → $150.00	53%

The case for and against

Updated May 12, 2026

Bull case

Moderna is a commercial-stage biotech that specializes in developing transformative medicines based on mRNA technology. With 35 mRNA development candidates in clinical studies, the firm has a wide range of potential treatments in its pipeline, including for infectious diseases, oncology, cardiovascular disease, and rare genetic diseases. The company's success with its COVID-19 vaccine has led to significant revenue and opportunities for growth, such as in the flu and RSV markets. In addition to its strong current product offerings, Moderna also has promising early-stage programs for rare diseases and potential for its cancer vaccine to become the next PD-1. However, there are risks to consider, such as potential clinical failures and pricing pressure in the market, which may impact the company's financial performance.

Bear case

Moderna is a commercial-stage biotech with a negative outlook due to potential competition, regulatory uncertainties, and long-term pricing pressure in the space. While the company has shown progress and has a diversified pipeline, its recent IP settlement and market cap of $18 billion may present a balanced risk/reward ratio for investors. With many promising programs in various stages of development, Moderna will continue to face competition in the rapidly evolving biotech industry.

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