Barclays raises Moderna PT on 'transformative' melanoma vaccine potential

Merck & Co

24/08/2026 12:04

** Barclays raises PT on vaccine maker Moderna MRNA.O to $125 from $48, maintains "equal weight" rating
** New PT implies a 13.9% downside to stock's last close on Friday
** Price target increase comes a week after Moderna and Merck MRK.N reported blowout late-stage trial results for their jointly developed skin cancer vaccine, showing that the experimental treatment Intismeran, when combined with Keytruda, reduced the risk of melanoma recurrence or spread
** Barclays called the results a watershed moment for Moderna's personalized cancer treatment efforts and said Intismeran has the potential to be a paradigm shift in oncology, highlighting its broad commercial opportunity
** Shares of MRNA closed up nearly 177% after trial results, their biggest-ever daily percentage gain
** However, Barclays analysts cautioned that because melanoma is one of the cancers most responsive to immunotherapy, a weaker result in a late-stage trial could undermine investor confidence in the vaccine's prospects not only in melanoma but also in other cancers, including renal cell carcinoma (RCC), a type of kidney cancer
** As of last close, MRNA stock up 392% YTD 

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com))