Barclays Initiates Coverage Of Moderna Stock

Barclays initiated coverage of Moderna (NASDAQ:MRNA) on January 28 with an Equal Weight rating and a $25 price target, citing sector undervaluation and expected M&A activity that support a constructive 2026 outlook. Moderna reported approximately $1.0 billion in third-quarter 2025 revenue, held $6.6 billion in cash and investments, and guided year-end cash to $6.5–7.0 billion while continuing pipeline funding.