JPMorgan analyst Cory Kasimov raised the firm's price target on Moderna to $32 from $24 and keeps an Overweight rating on the shares. Even though he tells investors that Moderna's Q4 earnings report and associated call were "relatively uneventful" and the ultimate commercial opportunity for its Covid-19 vaccine candidate is "unlikely to be substantial," Kasimov also believes the rapid turnaround illustrates the potential power of the company's platform and he expects near-to-medium term progress to "gradually inform the possibly disruptive capabilities of this company."

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.