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Why Moderna Stock Soared Today

TheMotleyFool

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Why Moderna Stock Soared TodayPhoto, wide shot, wide-angle lens, Mental health care service, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ce3b930-5e2a-4215-b686-0ad0eb0b922a.png

Shares of Moderna (NASDAQ: MRNA) surged 10% on Thursday after analysts at Bank of America issued a more optimistic outlook for the biotech company.

Bank of America analyst Geoff Meacham boosted his price forecast for Moderna's stock to $150 from $105. Meacham now believes that the drugmaker's COVID-19 vaccine could be worth as much as $78 per share, up from his previous estimate of $38.

A phase 3 study of Moderna's vaccine candidate, mRNA-1273, demonstrated a 94.1% efficacy rate against COVID-19. Health researchers were also impressed that the drug appears to be 100% effective at preventing severe forms of the disease.

Source Fool.com

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