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Investing.com - Needham maintained its Hold rating on Moderna (NASDAQ:MRNA), currently trading at $26.01 with a market cap of $10.16 billion, following the company’s presentation of new cancer therapy data at the ESMO Conference on Friday. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis.
The biotechnology company shared incremental data from its ongoing Phase 1/2 trial evaluating mRNA-4359, its cancer antigen therapy, both alone and in combination with Keytruda (pembrolizumab). With the company’s next earnings report due in 17 days, investors are closely watching these developments.
The new data focused on 29 melanoma patients who had relapsed from or were refractory to checkpoint inhibitor therapy, showing an overall response rate of 24% in the total cohort.
Results were particularly promising in the subset of patients with PD-L1 expression greater than 1%, where the overall response rate reached 67% among nine patients with a median follow-up period of approximately 20 weeks.
The company reported that adverse events were mild to moderate, with no Grade 4 or 5 toxicity observed in the trial participants.
In other recent news, Moderna has reported promising results for its updated COVID-19 vaccine, mNEXSPIKE/mRNA-1283. The vaccine demonstrated a more than 16-fold increase in neutralizing antibodies against the LP.8.1 variant, according to preliminary data from Phase 4 clinical trials. The trials involved individuals aged 12-64 with high-risk conditions and adults 65 years and older. Additionally, Moderna’s 2025-2026 Spikevax formula showed an over 8-fold increase in neutralizing antibodies in the same demographics. Meanwhile, Brookline Capital Markets has reiterated its Buy rating for Moderna, maintaining a price target of $198, citing the strong clinical data. UBS also reiterated its Buy rating with a price target of $70 after discussions about regulatory developments. Furthermore, the FDA has approved updated COVID-19 vaccines targeting the JN.1 variant, though eligibility is now restricted to those 65 and older and individuals with underlying health conditions. In a related development, a CDC panel has voted to end the universal recommendation for COVID-19 vaccinations, shifting to a personalized approach between patients and healthcare providers.
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