Moderna stock downgrade from SVB Leerink, coronavirus vaccine - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

A top Wall Street analyst just predicted a 'winter of discontent' for Moderna and shared 3 key reasons the coronavirus vaccine frontrunner's stock is poised to tumble 30%

Moderna CEO Stephane Bancel attends a meeting with President Donald Trump at the White House in March.Moderna, one of the frontrunners in developing a coronavirus vaccine, saw its stock fall by about 10% Tuesday morning, as investors weigh the market for a COVID-19 shot.

While Foroohar expects Moderna's vaccine to succeed in trials, he's not convinced about the commercial opportunity. As a frontrunner in the race for a COVID-19 shot, Moderna has seen its stock surge in 2020, from about $20 to a peak of $95 in July. Foroohar outlined three specific reasons that Moderna could fail to make big profits from its vaccine, even if the shot itself works to prevent the virus.Over the first few months of the pandemic, Moderna was well ahead of other companies in starting human testing and generating early data. But pharmaceutical giants like Pfizerto pivotal data showing whether or not their vaccine candidates work.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inside the secret club that helps determine which healthcare startups blow up - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. bielinko
Source: BusinessInsider - 🏆 729. / 51 Read more »