Moderna will spike another 25% from current levels after encouraging progress on coronavirus vaccine, Goldman says
Goldman analyst Salveen Richter raised the program's probability of success to 75% from 70% following the positive results. The bank is"optimistic on the forward outlook for the vaccine" and expects phase-two trials to begin in the current quarter. Phase-three studies will start in July, Richter estimated.Small companies are the biggest post-coronavirus battleground on Wall Street.
Goldman's new target implies a 25% jump from the stock's price as of 12:25 p.m. ET. The new target surpasses the previous Wall Street high of $83. Moderna shares have more than quadrupled in the year-to-date as the firm races to develop the first coronavirus vaccine. The company hopes to have a vaccine ready for use by the fall, fast-tracking the trial process as global COVID-19 cases continue to soar.Now read more markets coverage from Markets Insider and Business Insider:
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