“Phase 1 data demonstrates that vaccination with mRNA-1273 elicits a robust immune response at all dose levels and clearly supports the choice of 100 µg in a prime and boost regimen as the optimal dose for the Phase study. 3, “said Tal Zaks, Modern Medical Chief Officer.
After Moderna’s massive gains so far this year, 333% to be exact, is now the right time to recommend investors to buy stocks? Jefferies analyst Michael Yee has an almost Schwarzenegger-ish answer to that question: “We take a position: if it works, stocks will go up.”
Unsurprisingly, most of Yee’s bullish assessment is reserved for the company’s COVID-19 vaccine candidate.
Yee said: “We believe the street will be surprised to the upside if the COVID-19 vaccine works, is approved in early 2021, and there are multi-million dollar and worldwide purchase orders. The street is divided as to what will happen or whether the vaccine will even work and is hugely divided in the assessment. We believe that the vaccine will be approved and could generate $ 5B + in orders in the coming years and the stock will rise more. “
Yee’s confidence is based in part on conversations with KOLs (key opinion leaders) who have led them to believe that there is “a good chance the vaccine will work” and that, at the very least, they should be given approval from emergency early next year.
Moderna has become one of the leading candidates in the race to bring a viable vaccine to market, but there is still time before launching the champagne. The 1273 mRNA is currently in a phase 2 trial, with data expected in the fall, while a phase 3 study is expected to launch this month. It goes without saying that the positive results of the trials could act as additional catalysts for a greater appreciation of the actions.
The Jefferies analyst is not alone in his positive assessment. Based on 14 buy ratings and 2 reserves, Moderna has a strong buy consensus rating. With an average price target of $ 86.46, analysts expect a 15% premium to be added to the share price in the next 12 months. (See Moderna stock analysis at TipRanks)
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