Wells Fargo Upgrades Moderna (MRNA) on Strong Flu Vaccine Data

Font: Financial Modeling Prep  • May 08, 2026

Wells Fargo Upgrades Moderna (NASDAQ: MRNA) Amid Positive Flu Vaccine Data

Moderna (NASDAQ: MRNA) received an "Outperform" rating upgrade from Wells Fargo, signaling potential for stock growth.
The company reported strong Phase 3 clinical trial results for its seasonal flu vaccine, mRNA-1010, showing superior efficacy.
Moderna is advancing toward regulatory approvals for mRNA-1010, with an FDA PDUFA goal date set for August 5.

Moderna (NASDAQ: MRNA) is a leading biotechnology company known for its innovative messenger RNA (mRNA) technology platform. This platform was instrumental in the development of its widely used COVID-19 vaccine. The company continues to advance its vaccine development efforts, focusing on mRNA-based vaccines and therapeutics for a range of infectious diseases, competing with major pharmaceutical companies such as Pfizer.

On May 8, 2026, Wells Fargo upgraded Moderna to Outperform from Equal Weight. An Outperform rating indicates that the firm expects the stock to perform better than the broader market. Moderna shares were trading at $54.35 when the upgrade was issued, implying confidence in the company’s future prospects.

The upgrade follows positive developments in Moderna’s vaccine pipeline. As highlighted by Benzinga, the company announced successful Phase 3 clinical trial results for its seasonal flu vaccine candidate, mRNA-1010. The findings were peer-reviewed and published in The New England Journal of Medicine, adding scientific credibility to the results.

The study showed that mRNA-1010 was more effective than a standard-dose flu vaccine in adults aged 50 and older. The vaccine demonstrated an overall relative efficacy of 26.6%. Among participants aged 65 and older, relative efficacy increased to 27.4%.

Moderna is approaching an important regulatory milestone, with an FDA PDUFA goal date of August 5 for mRNA-1010. Regulatory filings are also under review in Europe, Canada, and Australia, with potential approvals beginning in 2026. The stock recently traded at $51.11, giving the company a market capitalization of approximately $20.28 billion.