Send me real-time posts from this site at my email

Why Moderna Stock Climbed Today

What happened

Shares of Moderna (NASDAQ: MRNA) rose 6.8% on Friday, as analysts and investors grew more optimistic about the vaccine maker's growth prospects.

So what

Piper Sandler analyst Edward Tenthoff repeated his overweight rating on Moderna's stock and boosted his price forecast from $208 to $234 on Thursday. His new price target represents potential returns to shareholders of roughly 37% from Moderna's current share price near $170.

Moderna's stock price is up sharply in recent days. Image source: Getty Images.

Tenthoff noted that data from a phase 3 study showed Moderna's authorized coronavirus vaccine, mRNA-1273, continued to demonstrate efficacy against COVID-19 of more than 90% after six months. That bodes well for sales of the drug; Tenthoff projects that Moderna will generate mRNA-1273 revenue of $10.85 billion in 2021 and $15.75 billion in 2022.

Tenthoff also praised Moderna's "rich pipeline" of mRNA-based drugs. The biotech currently has 14 vaccine candidates in clinical trials.

Now what

Investors have bid up Moderna's shares after the Centers for Disease Control and Prevention (CDC) and the Food and Drug Administration (FDA) asked states to temporarily halt immunizations with Johnson & Johnson's COVID-19 vaccine, while they investigated cases of blood clots in people who were administered the drug. With global COVID-19 cases rising rapidly around the world and safety concerns about rival vaccines mounting, demand for Moderna's coronavirus vaccine could soar. Its stock, in turn, appears set to reward shareholders with even more gains in the months ahead.

10 stocks we like better than Moderna Inc.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Moderna Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of February 24, 2021

Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson and Moderna Inc. The Motley Fool has a disclosure policy.


Source

Popular posts

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue