Investing.com — Argus downgraded Moderna Inc (BMV:) (NASDAQ:) to “maintain” from “purchase,” on declining gross sales of its COVID-19 vaccine and restricted near-term progress prospects.

The brokerage famous that whereas Moderna’s COVID-19 vaccine was a robust performer through the pandemic, gross sales have dropped because the virus entered a brand new section.

Its RSV vaccine, regardless of providing strong safety, faces challenges from being accredited greater than a yr after competing merchandise.

“RSV vaccine offers strong safety towards this virus, the product was accredited greater than a yr after two different competing merchandise, limiting its gross sales as docs had already turn out to be accustomed to a few of these different choices,” analyst mentioned.

Argus highlighted Moderna’s intensive pipeline of 36 mRNA growth candidates throughout 45 packages however mentioned these require important funding and time to achieve the market.

An improve would hinge on Moderna returning to earnings progress and securing extra approvals for its product candidates, Argus added.

The agency maintained its five-year “purchase” ranking, reflecting optimism concerning the firm’s long-term potential.

“We might think about an improve when the corporate is ready to return to a interval of earnings progress and when it has extra of its product candidates accredited and offered available on the market,” analyst wrote.