Moderna Faces Analyst Downgrades Amid Revised R&D Restructured Strategy and Delayed Profitability Target
Thursday, Moderna Inc (NASDAQ:MRNA) unveiled key updates at its annual R&D Day by reducing annual R&D spending by $1.1 billion by 2027, enabling a focus on ten prioritized products.
The company expects R&D expenses to fall from $4.8 billion in 2024E to $3.6 billion—$3.8 billion in 2027.
The strategy, expanding its portfolio into oncology and rare diseases, positions Moderna to deliver ten product approvals within the next three years.
Oppenheimer downgraded Moderna stock from Outperform to Perform and removed the price target.
Oppenheimer analyst writes that with a restructured R&D budget, Moderna’s non-respiratory assets will play a larger role in shaping the pipeline and face increased pressure to reach commercialization.
Also Read: Moderna’s Investigational Mpox Vaccine More Effective Than Current Approved Shot, Animal Study Shows.
RBC Capital Market decreased the price target from $90 to $75 while maintaining the Sector rating.
The analyst notes the COVID-19 vaccine maker …
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