Morgan Stanley analyst Matthew Harrison started Moderna with an Overweight rating and $29 price target, stating that he currently models peak, risk-adjusted sales of $8B, with prophylactic vaccines, rare diseases and cancer vaccines driving the bulk of that. However, Harrison added that the company's broad pipeline includes 21 programs and if the entire pipeline were to be successful he believes peak sales could be as high as about $35B.

Moderna announced a contract with the Ministry of Health in Brazil to supply its mRNA COVID-19 vaccine as an integral part of Brazil's 2024 national vaccination campaign against COVID-19. This contract follows the Brazilian Health Regulatory Agency's approval of Moderna's COVID-19 vaccine in March 2024, which encodes the spike protein of the XBB.1.5 sublineage of SARS-CoV-2 for active immunization for the prevention of COVID-19 in children from six months of age and adults. Under the contract, 12.5 million doses of Moderna's mRNA COVID-19 vaccine are anticipated for delivery in the second quarter of 2024, marking a significant milestone in Brazil's ongoing efforts to combat COVID-19. The partnership between Moderna and the Ministry of Health reflects a shared commitment to public health and the importance of national immunization campaigns. This contract is expected to bolster Brazil's national vaccination campaign and contribute to the global effort to combat the enduring threat of COVID-19.