Moderna, Inc. (NASDAQ:MRNA) stock is trending on Friday. The company announced that the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion for its RSV vaccine.
The Details: The RSV vaccine, mRNA-1345, is designed to protect adults aged 60 and older from respiratory disease caused by the RSV infection. As a result, the European Commission will authorize the vaccine.
The positive finding is based on data from the Phase 3 clinical trial ConquerRSV. The trial included 37,000 adults, aged 60 or older, and found an efficacy rate of 83.7% with 3.7 months of median follow-up against lower respiratory tract disease caused by RSV. The study also found sustained vaccine efficacy of 63.3% at a median follow up rate of 8.6 months.
"mRESVIA safeguards older adults against severe RSV outcomes and is uniquely offered in a pre-filled syringe to enhance ease of administration, which can save healthcare professionals time and reduce administrative errors," said Stéphane Bancel, CEO of Moderna.
The United States Food and Drug Administration approved the vaccine in May 2024 for adults 60 and older.
Analyst Changes: Several analysts have issued price target adjustments recently.
- On Friday, Needham analyst Joseph Stringer reiterated Moderna with a Hold.
- On Thursday, Evercore ISI Group analyst Cory Kasimov maintained Moderna with a In-Line and maintained a $120 price target.
- Also on Thursday, Piper Sandler analyst Edward Tenthoff reiterated Moderna with a Overweight and maintained a $214 price target.
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MRNA Price Action: At the time of writing, Moderna shares are trading 1.96% lower at $118.80 per data from Benzinga Pro.
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