Moderna Inc. (NASDAQ: MRNA) is a biotechnology company that develops vaccines and treatments based on advanced mRNA technology. With this technology, drugs can essentially ‘program’ the body to create compounds that fight or prevent disease. It’s a highly promising area of medical research with many effective treatments in the late stages of testing. Moderna has potential from its involvement in mRNA. More importantly, it has short-term potential with its Coronavirus vaccine candidate.
Moderna’s mRNA-1273 candidate uses genetic coding to create an immune response that protects against COVID-19. The candidate is now in the final stage of testing, which should be completed before the end of this month. The U.S. government has signed an agreement with Moderna, pledging to buy 100 million doses of its vaccine for $1.5 billion.
While highly speculative, there’s a consensus that Moderna has the most viable vaccine currently in development. If its late-stage trial is successful, it’s feasible to expect that the vaccine could be approved before the end of the year.
There’s analyst confidence behind this stock. Beyond the vaccine situation, other therapies developed by the company could create strong long-term revenue growth. An average target price of $93.29 suggests significant growth for investors who buy Moderna stock today.
- 1 Year Price Growth: 21%
- YTD Price Growth: 04%
- 3 Month Price Growth: 58%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.