Moderna falls as Berenberg cuts PT on weak respiratory vaccine outlook

Vaccine maker Moderna's MRNA.O shares down 4.3% at $33.71

Brokerage Berenberg cuts PT to $30 from $33, maintains rating to "hold"

The new PT represents 14.7% downside to stock's last close on Wednesday

Berenberg sees multiple headwinds for MRNA which include a poor commercial outlook for its respiratory vaccines, and an unsupportive U.S. political environment

Sanofi's SASY.PA entry into the COVID-19 market with the Novavax NVAX.O vaccine will increase pricing pressure and reduce MRNA's market share, brokerage says

"Moderna will not meet its guidance to break even by 2028 on our forecasts," brokerage adds

Two brokerages rate stock "buy" or higher, seven "hold" or equivalent, and one "underperform"; their median PT is $54.51, according to data compiled by LSEG

MRNA has fallen 63.2% in the past 12 months