01:15 PM EDT, 05/31/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

In line with expectations, Moderna ( MRNA ) secured the FDA approval for its mRNA-based RSV vaccine, mRESVIA(R), today for adults 60 years and older. Following the approval of its Covid-19 vaccine, mRNA-1273, during the pandemic, this will be Moderna's ( MRNA ) second commercialized product. In our view, this should help reduce risks, and diversify revenues from a single source, which were in considerable decline in the past year due to much lower demand for the Covid-19 vaccine. MRNA expects the new vaccine to be available by the 2024/2025 RSV season in the United States. Pfizer and GSK both received FDA approvals for their RSV vaccines during 2023. Thus, we may expect some competition. We are seeing some profit taking activity today, in our view, with shares down more than 6% as the news was not a game changer since the approval was broadly expected. We keep our target at $134 based on our NPV analysis. We maintain our 2024 loss per share (LPS) estimate at -$6.55 and 2025's LPS at -$5.24.