Moderna (MRNA) Shares Surge 15.84% on Positive Skin Cancer Vaccine Trial Results with Merck
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Successful Clinical Trial: Moderna's experimental skin cancer vaccine, developed in collaboration with Merck, demonstrated positive results in a phase 2 trial, reducing the risk of recurrence or death by 49% when combined with Keytruda, offering hope for high-risk melanoma patients.
- Significant Stock Surge: Following the announcement of the trial results, Moderna's stock price surged 15.84%, closing at $49.81 per share with a market cap of $17 billion, reflecting strong market confidence in its cancer treatment potential.
- Personalized Treatment Potential: Intismeran autogene is an individualized therapy designed to trigger an antitumor immune response based on unique tumor mutations, showing potential applications across various tumor types, including lung, kidney, and bladder cancers.
- Commitment to Ongoing Investment: Moderna executives emphasized their commitment to investing in oncology platforms, as encouraging outcomes highlight mRNA's potential in cancer care, further driving the company's strategic development in this field.
Analyst Views on MRNA
Wall Street analysts forecast MRNA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRNA is 29.36 USD with a low forecast of 17.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
1 Buy
14 Hold
4 Sell
Hold
Current: 43.000
Low
17.00
Averages
29.36
High
63.00
Current: 43.000
Low
17.00
Averages
29.36
High
63.00
About MRNA
Moderna, Inc. is a biotechnology company. The Company is advancing a new class of medicines made of messenger ribonucleic acid (mRNA). It is developing therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane or secreted proteins that have a therapeutic or preventive benefit with the potential to address a spectrum of diseases. The Company’s diverse development pipeline consists of 44 therapeutic and vaccine programs, 11 of which are in late-stage development. Its commercial products include Spikevax (its COVID vaccine) and mRESVIA (its respiratory syncytial virus (RSV) vaccine). Additionally, it has achieved four positive Phase III data readouts for its COVID vaccine (mRNA-1283), its RSV vaccine for high-risk adults aged 18 to 59 (mRNA-1345), its seasonal flu+COVID vaccine (mRNA-1083), and its seasonal flu vaccine (mRNA-1010).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
